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Banesco USA lends $15M to build Dania Beach hotel

Banesco USA lends $15M to build Dania Beach hotel

Banesco USA awarded a $14.97 million loan to build the Morrison Hotel in Dania Beach.

The Coral Gables-based bank provided the mortgage to N&S Properties, a Weston-based company managed by Alvaro E. Correa. It recently started construction of the 143-room, seven-story hotel.

It acquired the 0.9-acre site at 28 S. Federal Highway for $1.8 million in 2014. The city agreed to provide parking for the hotel in its municipal parking garage nearby.

Dania Beach is near Port Everglades and Fort Lauderdale/Hollywood International Airport.

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