AC Hotel

TD Wood secured a $32,100,000 construction loan for the Robert Finvarb Companies to develop the AC Hotel South Beach. Though AC Hotel is a Marriott Flag, it is new to the US market, and it was important to find a lender who understood the success of the brand. AC Hotels was founded in Spain in 1998, and is among the 50 best valued brands in the Spanish market. Wood selected a regional bank based on pricing and their knowledge of the hotel brand in Spain. Wood secured interest-only LIBOR-based financing, and the loan was quoted and closed within 60 days. The seven-story, 150-room also includes an eighth floor, rooftop pool with panoramic views and contains a restaurant and 3,200 square-feet of retail space. AC Hotel South Beach is located at 2912 Collins Avenue, Miami Beach, Florida