Driftwood Capital, a vertically-integrated commercial real estate investment firm focused on hospitality, has announced the launch of Driftwood Hotel Income I, DST, its inaugural Delaware Statutory Trust (DST) platform, offering eligible investors with access to a quality hotel for 1031 exchange investors. The offering is expected to target approximately $23.9 million in equity commitments and use approximately $17.7 million of debt representing an expected loan-to-value ratio of approximately 43 percent LTV.
The offering is anchored by the Courtyard by Marriott Fort Lauderdale Weston, a 176-key hotel located at 2000 N. Commerce Parkway just west of Fort Lauderdale, Fla.
Driftwood currently expects to evaluate additional DST opportunities potentially expanding its DST portfolio with compact full-service, premium-branded select-service and extended stay hotels in markets Driftwood believes demonstrate attractive corporate and leisure travel demand based on its underwrit
