Ocean Bank provided a $16.8 million loan to Hotel of Deerfield LLC for the Fairfield Inn & Suites Deerfield Beach. The 104-room property features a pool, gym, on-site parking and a self-service breakfast area.
“We are pleased to have partnered with Ocean Bank on their financing of our Deerfield Beach property,” said Sanjay Patel, president, Hotel of Deerfield LLC. “Their team understood the asset, moved efficiently and provided a smooth lending experience from start to finish. We appreciate their support and look forward to growing the relationship
Alvaro Luis, SVP, Ocean Bank, arranged the loan.
“Sanjay Patel is a successful and knowledgeable hotelier and businessman, with more than two dozen properties throughout Florida,” said Eddie Diaz, EVP/head, corporate lending, Ocean Bank. “We welcome him and his group as customers of Ocean Bank.”
