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Hampton Inn Coconut Creek, South Florida Business Journal Article

Seacoast bank grants hotel construction loan in Coconut Creek

brian-bandell

Brian Bandell

Senior Reporter- South Florida Business Journal

Seacoast National Bank has financed the construction of a 105-room hotel in Coconut Creek.

In a May 30 deal, Technological University of America sold the 7.5-acre site at 5000 N. State Road 7 to Coconut Creeks Hotel for $2 million. That’s below the property’s last sale for $5.4 million in 2008.

The new buyer is a partnership between Miami-based Coconut Creek Hospitality Group, led by Seth Fellman, and Coral Springs-based Bluewater Builders, led by Todd Nezwek.

The Stuart-based bank (NASDAQ: SBCF) gave Coconut Creeks Hotel a $6.5 million first mortgage and a $3.5 million second mortgage.

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