BlackRock has provided $72.25 million of financing to facilitate the $83 million, or $423,469/unit, purchase of the 196-room Postcard Inn in St. Pete Beach, Fla., near St. Petersburg. A venture of LCP Group and Safanad bought the property, with more than 300 feet of beach frontage on the Gulf of Mexico, from TPG Hotels & […]

The post BlackRock Lends $72.25Mln for Purchase of Fla. Boutique Hotel appeared first on Commercial Real Estate Direct.