Bank OZK awards construction loan to Driftwood Acquisitions & Development and Merrimac Ventures for Tru by Hilton and Home2 Suites by Hilton hotel in Fort Lauderdale – South Florida Business Journal

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Merrimac Ventures and Driftwood Acquisitions & Development are developing the 218-room hotel under the brands Tru by Hilton and Home2 Suites. The developers of a dual-branded Hilton hotel in the Flagler Village area near downtown fort [south florida Business Journal] – Mike Seemuth.

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A joint venture between Merrimac Ventures and Driftwood Acquisitions and Development has secured $28.5 million for the construction of a new Hilton-franchised hotel in Fort Lauderdale, Fla. Mission Capital Advisors arranged the non-recourse loan through Bank OZK, on behalf of the partnership.

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