Driftwood Capital has successfully secured $47 million in refinancing for the Canopy by Hilton West Palm Beach Downtown, a full-service hotel located in the heart of West Palm Beach. The financing was orchestrated by a team from Berkadia, led by Michael Weinberg and sourced from Bank of America. This newly acquired funding consists of a three-year interest-only loan with two one-year extension options.
Situated at 380 Trinity Place, just north of Lakeview Avenue, this 12-story hotel boasts 150 rooms and was completed in 2020 with an impressive size of 126,540 square feet. Its amenities include a fitness center, over 3,000 square feet for meetings and events,a rooftop pool deck,and two dining options: Banter -a first-floor restaurant offering three-course meals- and Treehouse Rooftop Bar on the13th floor serving poolside cocktailsand meals.
The recent announcement reveals that Driftwood’s efforts have been fruitful as they continue to expand their portfolio through strategic partnerships like this one.
