South Florida Company Secures $98.39 Million Financing for Margaritaville Resort Orlando

Concord Summit Capital, LLC recently completed the nearly $100 million refinancing for Margaritaville Resort Orlando to help the resort expand its property. Starwood Property Trust provided the loan to Margaritaville’s developer and owner, Encore Capital Management. Encore, a longtime client of Concord Summit. 

After opening in January 2019, the resort has received recognition by Tripadvisor as one of the 2020 winners of the Travelers’ Choice Award. Expansion plans include building an additional 75 hotel rooms on the east wing of the resort.

“Margaritaville was a success story from its opening and became even stronger after the reopening of Orlando in 2020,” says Kevin O’Grady, Managing Director of Concord Summit, a South Florida company that serves as an intermediary between sponsors and providers of capital for commercial real estate debt and equity financing. “The owners have planned the resort’s expansion carefully and enhanced the brand significantly. Starwood, as a hospitality-focused company, recognized the value of this asset and was a pleasure to work with.”

Concord Summit’s principals also arranged the original construction financing for Margaritaville in 2017. Other Encore properties and developments financed by Concord Summit’s principals include Paramount Miami Worldcenter (condominium component), Paramount Fort Lauderdale Beach and Plantation Walk.

You May Also Like

Dolphin Mall in Miami to Open Entertainment Venue Featuring Dining and Hospitality Options

Taubman Realty Group and Live! Hospitality & Entertainment partnered to create Vivo! Dolphin Mall, which will feature 62,000 square feet of dining and entertainment space with an expansive 30,000-square-foot al fresco plaza set to debut this summer. Vivo! will provide a destination for premium entertainment, food, drinks and first-class hospitality in Miami.  “It’s been incredible

Las Olas Wine & Food Festival Returns for 27th Anniversary

The Las Olas Wine and Food Festival (LOWFF) will celebrate its 27th anniversary on Friday, April 21. As one of Fort Lauderdale’s most extensive wine and food festivals, the event will transform Las Olas Boulevard and offer guests the opportunity to sip, sample and enjoy dishes from 40 of South Florida’s finest restaurants and more

Vinya Wine to Celebrate National No Phone Day With Miami’s Top Restaurants

Wanting restaurant guests to enjoy their meal and camaraderie with friends and family, Vinya Wine is spearheading an initiative to encourage patrons to enjoy a sip of wine with friends or family on National No Phone Day. Organized by Allegra Angelo, Vinya Wine partner and sommelier, Tuesday, April 18 has been declared No Phone Day,

W Hotel on Fort Lauderdale Beach to Host Post Tortuga Party

The Tortuga Music Festival on Fort Lauderdale Beach will bring thousands of concertgoers to the area for a weekend of live musical entertainment. The popular event is celebrating its 10th anniversary this year with headliners Eric Church (Friday), Shania Twain (Saturday) and Kenny Chesney (Sunday), each performing for more than 25,000 fans. However, the party

Other Posts

AKA West Palm Hotel Introduces New Features Following Recent Upgrades

The hotel residence now offers short-stay availability.  

Paws Enchanted Masquerade Ball to Benefit the Humane Society of Broward County

The annual PAWS Gala benefiting the Humane Society of Broward County occurs at 6:30 p.m. on Saturday, April 22, at the Marriott Harbor Beach Resort & Spa in Fort Lauderdale. This year’s theme is the “Enchanted Masquerade Ball,” presented by Spirit Airlines. Chairwomen Alyse Lemstrom and Sheryl Maher and their committee have organized the event with proceeds

Dan Marino Foundation Celebrates Autism Acceptance and Awareness Month

The Dan Marino Foundation in Fort Lauderdale will celebrate the autism community with various initiatives and events during Autism Acceptance & Awareness Month throughout April. The nonprofit organization is dedicated to improving the lives of children, teens, and adults with autism. When Dan and Claire Marino created the nonprofit in 1992, the prevalence of autism

Visit Lauderdale Celebrates Broward’s Cultural Diversity

Did you know Broward County is home to a rich, vibrant tapestry of cultures, with people from more than 170 countries speaking 147 languages living here? This dynamic array of diversity is not only prevalent in every corridor of the county — it’s proudly celebrated in the attractions, festivals, and food the destination offers. And