ACRES Supplies $86M Refinancing for New Hilton-Branded Lodge in Delray Seashore, Florida

Ray Lodge will span 141 rooms and four stories. The property’s amenities will include things like a 20,000-square-foot rooftop with an out of doors pool, restaurant and bar.

DELRAY Seaside, FLA. — ACRES Money Corp. has provided a virtually $86 million loan to refinance The Ray Lodge Delray Seaside, a new lodge found at 233 NE 2nd Ave. in Delray Seaside. The home is a member of the Curio Collection by Hilton model of hotels. The loan was offered to sponsor Menin Improvement Inc., a true estate enhancement company. The Ray Lodge Delray Beach is slated to open at the commencing of September 2021.

Ray Hotel will span 141 rooms and four stories. The property’s amenities will incorporate a 20,000-square-foot rooftop with an outdoor pool, restaurant and bar. In full, the hotel will also provide additional than 45,000 square ft of indoor and outdoor function room. Additionally, the property will also include a 3,590-square-foot event place referred to as The Cube, which will be employed for weddings, charity features, functions and other important activities.

Supplemental food stuff and beverage selections will include things like a restaurant, as well as a foyer bar and espresso bar. Other facilities will element a exercise space, valet laundry, shuttle company to the seaside and a non-public beach front segment for hotel friends.

Ray Lodge is found .4 miles from the Delray Beach and somewhere around two blocks north of Atlantic Avenue, a main thoroughfare with eating places, bars and retail retailers.

Richard Horowitz of Cooper Horowitz organized the bank loan. Drew Miller and James Bracco of ACRES originated the deal.