Slate Asset Management Provides $14.9 Million Loan Secured by Tru by Hilton Hotel in Dania Beach, FL

NEW YORK--(BUSINESS WIRE)--Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, announced today that Slate Real Estate Capital has closed a $14.9 million senior loan facility provided to AD1 Global (“AD1”) to refinance the Tru by Hilton Hotel (“the hotel”) located in Dania Beach, Florida.

Tru by Hilton is a recently constructed, 115-key hotel located just 15 minutes away from the Fort Lauderdale-Hollywood International Airport, one of the highest trafficked airports in the United States with the largest forecasted passenger growth rate through 2035. The hotel is also in close proximity to the Port Everglades, one of the top three cruise ports in the world, and Dania Beach, a popular tourist destination.

This senior loan facility marks Slate’s second hotel investment in the Fort Lauderdale submarket. In January, Slate Real Estate Capital closed a $16.5 million bridge loan provided to AD1 to refinance the Wyndham Garden Hotel in Dania Beach, Florida.

Slate is an active lender through its real estate credit platform, Slate Real Estate Capital, which provides transitional capital and flexible liquidity to strong sponsors and assets across the commercial real estate industry. The firm invests across the real estate capital stack through bridge and transitional loans, acquisition and restructuring of existing loans, investment in debt securities, and flexible structured liquidity solutions for landlords and lenders.

Noam Kaminetzky of Meridian Capital Group represented AD1 for the transaction.

About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.