MIAMI, FL. --- Absolut Financial Resources arranged a $21 million construction loan for Key Beach North. The borrower acquired the oceanfront parcel of land in January 2014 and they are developing an Embassy Suites Hotel and replacing the existing debt on the land.
The 6.4 acres of is located near the historic city of St. Augustine, FL just south of Anastasia State Recreation Center. The ocean front property has significant frontage along the Atlantic Ocean measuring about 550 feet. The eight-story Embassy Suites resort will include 180 rooms with upscale resort amenities.
Absolut Financial Resources finances various types of commercial real estate. Based out of Miami, with over 26 years’ experience, AFR is known for experience and creativity in providing loans which meet their borrower’s requirements.
Absolut Financial Resources arranged the $21 million construction loan, which closed June 2015.