City National Bank grants construction loan for Palm Beach County Marriott brand hotel

City National Bank grants construction loan for Palm Beach County Marriott brand hotel

City National Bank of Florida has funded the construction of a hotel in Boynton Beach.

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.

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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.

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