Ocean Bank Lends $80 Million to FLB Hotel, LLC

Ocean Bank Lends $80 Million to FLB Hotel, LLC

Ocean Bank announced it has loaned $80 million to FLB Hotel, LLC, and FLB Restaurant, LLC, for the Conrad Fort Lauderdale Beach Hotel.

The hotel, located directly in front of the Atlantic Ocean on N. Fort Lauderdale Beach Boulevard, features 290 units consisting of suites, residences, and condominium hotel units, plus a spa, fitness center, pool, business center and restaurants.

The Conrad recently completed and opened Vitolo restaurant by famed chef Anthony Vitolo. Vitolo restaurant adds to the existing dining options at the Conrad Fort Lauderdale Beach Hotel. Takato Restaurant, opened in 2021, is a Japanese - Korean Fusion restaurant with Executive Chef Taek Lee. The restaurants offer distinct indoor and outdoor dining areas.

"The Conrad Hotel, Vitolo, and Takato are premier properties, and Ocean Bank is proud to expand our relationship with the hotel," said Eddie Diaz, Executive Vice President, and Head of Corporate Lending. "This loan defrays the costs of renovations and consolidates previous loans."

Christian Berube, FLB Hotel Chief Financial Officer said, "The Conrad Fort Lauderdale Beach Hotel is a signature venue and our relationship with Ocean Bank demonstrates the value, high-end appeal and strength of this property."

T. George Harduvel, Senior Vice President and Lourdes Quiñones, Senior Vice President arranged the loan for Ocean Bank.