A Residence Inn by Marriott hotel has broken ground in Coconut CreekMarch 8, 2018
A Residence Inn by Marriott hotel has broken ground in Coconut Creek after the developer secured $15.5 million in construction loans.
Coral Gables-based Mercantil Bank awarded mortgages of $10.12 million and $5.38 million to Coconut Creek Hotel M-R1, a joint venture between Miami-based Morlin Hospitality Group and Coconut Creek-based Butters Construction & Development.
The six-story hotel will have 105 rooms with kitchenettes, a pool, business center and fitness center.
The developers acquired the 1.76-acre site, which is near the Sawgrass Expressway, for $2.37 million in May 2017.
Morlin Group also owns the Hampton Inn & Suites in Coconut Creek.
Source info The South Florida Business Journal