Driftwood Capital Launches DST Platform With Acquisition of Courtyard by Marriott Fort Lauderdale Weston
MIAMI, Florida—Driftwood Capital announced the launch of Driftwood Hotel Income I, DST, its inaugural Delaware Statutory Trust (“DST”) platform, offering eligible investors access to a quality hotel for 1031 exchange investors. The offering is expected to target approximately $23.9M in equity commitments and use approximately $17.75M of debt, representing an expected loan-to-value ratio of approximately 43 percent LTV. The offering is anchored by the Courtyard by Marriott Fort Lauderdale Weston, a 176-key hotel in Weston, Florida, just west of Fort Lauderdale. The property is located less than five minutes from Interstate 75, providing […]
The post Driftwood Capital Launches DST Platform With Acquisition of Courtyard by Marriott Fort Lauderdale Weston appeared first on LODGING Magazine.
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