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 is 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 a total area of 126,540 square feet. Its amenities include a fitness center and over 3,000 square feet of meeting space as well as an outdoor rooftop pool deck. Guests can also enjoy two food and beverage venues: Banter on the first floor offering three-course meals; and Treehouse Rooftop Bar on the thirteenth floor serving poolside cocktails and meals.
