City National Bank of Florida awarded an $11.32 million construction loan to the developer of a Marriott-branded hotel in Boynton Beach.
The Miami-based bank granted the mortgage to North Boynton Beach Hospitality, a local company led by John Costas. It covers the 2.8-acre site at 2450 Quantum Blvd.
The developer received approval in April to build a 116-room, 77,897-square-foot hotel. The four-story hotel would be branded a TownePlace Suites by Marriott.
***** *****
Story by: Brian Bandell – May 5, 2015, 2:13pm EDT
Photo Courtesy: Biz Journals
Photo Description: City National Bank of Florida has funded the construction of a hotel in Boynton Beach.