Slate Asset Management Provides $16.5 Million Loan Secured by Wyndham Garden Hotel in Dania Beach, Florida | News


NEW YORK–(BUSINESS WIRE)–January 24, 2022–

Slate Asset Management (“Slate” or “the Company”), a global real estate-focused alternative investment platform, today announced that Slate Real Estate Capital I has closed a $16.5 million bridge loan dollars awarded to AD1 Global (“AD1”) to refinance the Wyndham Garden Hotel (“Wyndham Garden” or “the Hotel”) located in Dania Beach, Florida.

Slate is an active lender through its real estate lending platform, Slate Real Estate Capital, which provides transition capital and flexible liquidity to sponsors and strong assets in the commercial real estate industry. The company invests in all real estate capital through bridge and bridge loans, acquisition and restructuring of existing loans, investments in debt securities and flexible structured liquidity solutions for owners and lenders .

The Wyndham Garden is a 142-key hotel built in 2019, which sits in the heart of greater Fort Lauderdale, a popular travel destination. The hotel is located minutes from Fort Lauderdale-Hollywood International Airport, one of the busiest airports in the United States, and just three miles from Port Everglades, a top three cruise port in the world, handling almost four million passengers a year.

Slate’s investment philosophy is all about the basics and fundamentals. The company’s lending platform fills the voids created by competitors’ focus on large lending and the exclusion of certain asset classes and works in partnership with borrowers and brokers, leveraging its proprietary technology capabilities to respond with speed and determination to attractive debt investment opportunities.

Meridian Capital Group’s Noam Kaminetzky represented AD1 on the transaction.

About Slate Asset Management

Slate Asset Management is a global real estate-focused alternative investment platform. We focus on fundamentals with the aim of creating long-term value for our investors and partners. Slate’s platform covers a range of investment strategies, including opportunistic, value-added, core plus and debt investing. We are backed by exceptional people and flexible capital, which enable us to create and execute a wide range of attractive investment opportunities. Visit slateam.com to learn more.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220124005252/en/

CONTACT: Slate Asset Management

Karolina Kmiecik

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA NEW YORK

INDUSTRY KEYWORD: BUILDING COMMERCIAL & REAL ESTATE CONSTRUCTION & REAL ESTATE FINANCE REITS PROFESSIONAL SERVICES BUILDING SYSTEMS DESTINATIONS VACATIONS TRAVEL

SOURCE: Slate Asset Management

Copyright BusinessWire 2022.

PUBLISHED: 01/24/2022 08:00 AM / DISK: 01/24/2022 08:02 AM

http://www.businesswire.com/news/home/20220124005252/en

Copyright BusinessWire 2022.

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