Loan proceeds are paying off existing debt on the property.
Wild Dunes Resort, a 1,600-acre beach resort in the Isle of Palms, S.C., has secured a $30.75 million refi, reports the Daily News Article. The property is 11 miles form Charleston, S.C.
Led by senior managing directors Paul Brindley and Daniel Peek, HFF worked exclusively on behalf of Lowe Enterprises to secure the five-year, fixed-rate loan through an undisclosed life insurance company. Loan proceeds are paying off existing debt on the property.
The Wild Dunes Resort includes the 93-room Boardwalk Inn, two championship golf courses, the Sweetgrass Pavilion Conference Center, a tennis facility with 17 courts, 15,800 square feet of retail, six food and beverage outlets, and The Village Parking and commercial units. Also included in the collateral for the loan are 396 rental condominium contracts.
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