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.