$137MM • Cocoa Beach, FL
Transaction Highlights
PACE LTV of 27.9%
CLTV of 42.2%
Interest Only of 4 Years
26 Year Amortization
c-PACE:
$137MM
Location:
Cocoa Beach, FL
Type:
New Contruction
building:
Hospitality
Term:
29 Years
Status:
Closed
Project Description
Westin Cocoa Beach Resort & Spa
Driftwood Capital’s signature Westin Cocoa Beach Resort & Spa, a $420 million luxury beachfront new development on Florida’s Space Coast, is currently under construction with a planned opening in early 2027. This 502-room resort and spa represents Driftwood’s fourth hospitality project in Brevard County. The project was financed through a $207 million solution, which includes a $137 million C-PACE
loan paired with a $70 million senior construction loan.