Pebblebrook Completes $140M Refinancing for Margaritaville Hollywood Beach Resort in South Florida

HOLLYWOOD, FLA. — Pebblebrook Hotel Trust has refinanced the Margaritaville Hollywood Beach Resort, a 369-room lodging property located at 111 N. Ocean Drive in South Florida. The hotel REIT purchased Margaritaville Hollywood in 2019 for $270 million. The new $140 million loan features a three-year term with two one-year extension options and a fixed interest rate of 7 percent. Wells Fargo Securities LLC served as the sole lead arranger for a syndicate of lenders for the loan, and Wells Fargo Bank NA will serve as administrative agent for the new mortgage. Pebblebrook Hotel Trust is using cash to repay the remaining $21.5 million from the previous CMBS loan. Built in 2015, Margaritaville Hollywood features 450 linear feet of direct beach frontage, food-and-beverage options, a spa, outdoor pools, kids club and entertainment venues.