HFF Secures $12.6M For Pensacola Beach Days Inn

PENSACOLA BEACH, FL—Holliday Fenoglio Fowler, LP (HFF) has secured $12.6 million in non-recourse financing for the acquisition and repositioning of a Days Inn, a 123-room beachside hotel here.

HFF worked on behalf of the borrower, a joint venture between RREAF Holdings and Innisfree Hotels, to place the floating-rate loan with two, one-year extension options with Benefit Street Partners Realty Trust. Innisfree Hotels will be a partner in the hotel and will manage the property.

After renovations are complete, the three-story Days Inn hotel will have two outdoor, resort-style pools; a Tiki bar; upgraded landscaping; an additional seven guestrooms; fitness center; business center; beach access and sundeck, according to HFF.

The hotel is located at 16 Via De Luna Dr. on Pensacola Beach’s Santa Rosa Island and is proximate restaurants and major tourist attractions, including deep-sea charters, recreational water sports, Naval Air Station Pensacola and the Zoo at Gulf Breeze.

The HFF debt-placement team representing the borrower was led by Jeff Bucaro, director, and Nicole Schmidt, associate, and represents the tenth financing transaction completed by Bucaro for the borrower.