NORTH MYRTLE BEACH, S.C. (WMBF) - A Margaritaville hotel coming to North Myrtle Beach just passed a major financial hurdle.

HALL Structured Finance, a Dallas-based financial company, announced on Monday that it closed on a first-lien construction loan, totaling $68.5 million, for developing the Compass by Margaritaville Hotel.

The hotel will be located at 1717 South Ocean Blvd., the former home to Castaway Beach Inn.

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The city of North Myrtle Beach said the hotel will have 14 stories and 165 units.

HALL Structured Finance added that the hotel will also feature a full-service restaurant, poolside bar, two spa-like indoor pools, an outdoor pool, a 13-foot outdoor waterslide and direct beach access.

The pr

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