Slate Asset Management (“Slate” or “the firm”), a global alternative investment platform focused on real estate, announced today that Slate Real Estate Capital I has closed a $16.5 million bridge loan provided to AD1 Global (“AD1”) to refinance the Wyndham Garden Hotel (“Wyndham Garden” or “the hotel”) located 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.
The Wyndham Garden is a 142-key hotel built in 2019, which sits within the heart of greater Fort Lauderdale, a popular travel destination. The hotel is located just minutes away from the Fort Lauderdale-Hollywood International Airport, one of the highest trafficked airports in the United States, and just three miles from the Port Everglades, one of the top three cruise ports in the world, hosting nearly four million passengers annually.
Slate’s investment philosophy is focused on basis and fundamentals. The firm’s credit platform fills voids created by competitors’ focus on sizable loans and exclusion of certain asset classes and works in partnership with borrowers and brokers, leveraging its proprietary technology capabilities to respond with speed and decisiveness to compelling debt investment opportunities.
Noam Kaminetzky of Meridian Capital Group represented AD1 for the transaction.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform focused on real estate. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform spans a range of 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.
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Contacts
Slate Asset Management
Karolina Kmiecik
Karolina@slateam.com
