Driftwood Capital, a vertically integrated commercial real estate firm, has successfully arranged the $60.5 million refinancing of Margaritaville Lake Resort in Osage Beach, Missouri. The 520-key resort was repositioned by Driftwood and has seen a significant increase in revenue under their management.
The financing was secured through Goldman Sachs Bank USA and Starwood Mortgage Capital by Managing Directors Michael Weinberg and Scott Wadler, along with Associate Director Alec Fox of Berkadia South Florida. This five-year loan offers competitive interest rates with full-term interest-only payments.
According to Carlos Rodriguez Jr., President & COO at Driftwood Capital: “Since acquiring and repositioning the iconic Tan-Tar-A Resort into a Margaritaville hotel, we have increased revenue by more than 50%, significantly outperforming our initial projections.”
Located at 494 Tan Tar A Drive, the Margaritaville Resort Lake of the Ozarks boasts amenities such as a full-service marina, championship golf course,
indoor water park,
spa,
and seven restaurants/bars.
This successful closing follows Driftwood’s recent $60M refinancing deal for Hilton Cocoa Beach on Florida’s Space Coast.
In other news,
Connect Industrial Midwest 2024 will be held on March 5th at Joe’s Live in Rosemont Illinois.
For more information or to register for this event please click here .
