Developer Moses Bensusan has secured a $70 million construction loan to finance the completion of Meliá Costa Hollywood Beach Resort. Currently under construction, the six story 307-room condo hotel is 85 percent pre sold and is located at 777 North Ocean Drive in Hollywood Beach. Eastern Union Funding Senior Loan Consultant CJ Danziger and Managing Partner Meir Kessner arranged the funding on behalf of the borrower, Bensusan’s Hollywood-based Liberty Grande LLC, with Madison Realty Capital. The project will offer studios, along with one-, two-, and three-bedroom units. Amenities include a fitness center, exclusive boutiques and restaurants and a rooftop pool.
“Hollywood has seen an incredible resurgence in interest these past few years, particularly with the recent opening of Jimmy Buffett’s Margaritaville Hollywood Beach Resort a few doors down,” said CJ Danziger, Eastern Union Funding. “That project was instrumental in Moses Bensusan moving forward with Meliá Costa Hollywood Beach Resort.”
