CBRE arranged for $72.5 million in financing for sale of St. Pete Beach hotel

Financing put together by commercial real estate firm for $83 million sale of the Postcard Inn.

By Louis Llovio
| 9:11 a.m. March 15, 2022
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The Postcard Inn on St. Pete Beach sold for $83 million. (Courtesy photo)

Tampa Bay-Lakeland

ST. PETE BEACH — The $83 million sale of the Postcard Inn on St. Pete Beach to two investment firms from New York and Dubai came together in part because of $72.5 million in financing arranged by CBRE.

According to the commercial real estate firm, the loan package was put together by its Hotels Debt & Structured Finance division, which worked with BlackRock to secure the financing. CBRE represented the seller in the transaction of the popular beach hotel, which has been a Pinellas County mainstay for more than half a century.