Driftwood Capital secures $60 million to refinance the Hilton Cocoa Beach Oceanfront Hotel, a 295-key resort in Florida’s Space Coast. The three-year loan, arranged by Berkadia’s Michael Weinberg and his team, offers two extension options and full-term interest-only payments without requiring a depository relationship.
According to Driftwood’s Carlos Rodriguez Sr., the Space Coast is experiencing significant growth as it establishes itself as a top destination for leisure, corporate, and meeting travelers in Florida. With various demand generators such as the Kennedy Space Center, Port Canaveral, Patrick Space Force Base,and renowned beaches just 45 minutes away from Orlando,the market has diverse appeal. Additionally,the upcoming completion of guestroom and bathroom renovations will position the Hilton as the leading full-service hotel in this region.
