BankUnited Provides $41.8M Loan for Sheraton Sand Key Resort in Florida

CLEARWATER BEACH, FLA. — BankUnited has provided a $41.8 million loan for Sheraton Sand Key Resort, a 390-room, beachfront hotel in Clearwater Beach, a town in Pinellas County fronting the Gulf of Mexico. The resort-style hotel is situated on 21.1 acres at 1160 Gulf Blvd. in Clearwater Beach, which TripAdvisor ranked as the No. 1 beach in the United States for 2016. The nine-story property features 24,000 square feet of indoor and outdoor meeting space, an outdoor pool, fitness center, spa, tennis and beach volleyball courts, whirlpool, gift shop and five dining options including Rusty’s Bistro, Island Grille, Poolside Café and Mainstay Tavern. Daniel Peek, Scott Wadler, Preston Reid and Alexandra Lalos of HFF arranged the five-year, fixed-rate loan, which the borrower is using to refinance an existing loan.