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Peachtree backs $113M bridge loan for Margaritaville Hotel Savannah
The bridge financing supports a multifamily-to-hospitality conversion of the 2023-built Ann Street Lofts, targeting a summer 2027 hotel opening.
Tidal Real Estate Partners is converting its Ann Street Lofts multifamily property in Downtown Savannah into a Margaritaville-branded hotel, backed by a $113 million bridge loan originated by Peachtree Group, Commercial Observer reported. Peachtree originated the three-year, floating-rate loan with two 12-month extension options for the multifamily-to-hospitality conversion project, which is slated to start late this summer. According to Peachtree’s head of credit originations Jared Schlosser, Tidal chose the pivot after evaluating market conditions, citing Savannah’s tourism demand and a limited lodging supply in the city’s Historic District. Walker & Dunlop negotiated the debt, and the planned Margaritaville Hotel Savannah is scheduled to debut in summer 2027. The development is expected to include a hotel pool deck, a Jimmy Buffett’s Margaritaville restaurant concept, and a LandShark Bar & Grill, designed for both leisure travelers and local residents. Schlosser said the conversion should be manageable because the rooms are already largely established, with most work focused on common areas, meeting rooms, restaurant space, and amenity areas. Commercial Observer also noted that Tidal previously secured a $79 million loan from BGO to refinance Ann Street Lofts in May 2024 soon after the project’s completion.