DLP Capital Funds Loan for Margaritaville Beach Cottage Resort Galveston
DLP Capital is proud to announce the origination of a revolving line of credit to RREAF Holdings. Extended through the DLP Lending Fund, this loan will fund the construction of Phase I of a Margaritaville-branded resort in Galveston, Texas.
A premier island destination on the Texas Gulf Coast
Situated on more than 95 acres in Galveston, Texas, a coastal city along the Gulf of Mexico, Margaritaville Beach Cottage Resort Galveston is planned to consist of more than 275 for-sale cottages, a Margaritaville-branded hotel featuring more than 325 rooms, and a sprawling set of resort-style amenities.
Financing from DLP Capital will fund Phase I of the project, which encompasses the construction of the first phase of more than 100 for-sale cottages as well as the resort’s on-site amenities.
The project’s prime location in Galveston, a historic island city approximately 50 miles southeast of Houston, will offer vacationers and prospective homeowners a highly accessible yet distinctive coastal getaway.
Home to about 53,600 residents, Galveston is best known for its thriving tourism sector, which draws over 7 million visitors per year to the island’s beaches, historic downtown, and major cruise terminals.1,2 Thanks to continuous population growth in the greater Houston metro area and a strong local economy anchored by the maritime and hospitality industries, Galveston is an exceptional market for premium, brand-driven resort developments such as the Margaritaville Beach Cottage Resort Galveston.
Flexible construction financing for Phase I of Margaritaville Beach Cottage Resort Galveston
DLP Capital’s tailored loan provides RREAF Holdings with the flexible financing it needs to build out the initial phase of Margaritaville Beach Cottage Resort Galveston. The revolving line of credit was extended to construct more than 100 cottages and a complete suite of resort-style amenities.
RREAF Holdings: A proven hospitality developer
Headquartered in Dallas, Texas, RREAF Holdings is a vertically integrated commercial real estate firm specializing in the acquisition, development, financing, repositioning, and management of multifamily and hospitality real estate across the Sunbelt.
Founded in 2010, the firm’s highly experienced team leverages its in-house hospitality and communities platforms to execute large-scale, highly amenitized master-planned projects. Since inception, RREAF Holdings has completed more than 130 transactions and acquired or developed over 23,000 units.3
Today, the sponsor oversees a portfolio of more than 90 assets across various high-growth U.S. markets.3 By delivering high-quality, amenity-rich housing and hospitality options, the sponsor is aligned with DLP Capital’s mission to finance the building of Thriving Communities for America’s working families.