JLL’s Resorts & Hospitality group organized the financing for 5 resort properties, consisting of 1,140 keys throughout 4 states
JLL’s Resorts & Hospitality group introduced in the present day that it secured $153 million in senior financing for 5 full-service resort properties, consisting of 1,140 keys positioned in California, Arizona, Colorado and Georgia.
JLL labored on behalf of the borrower, to safe the three-year, floating-rate mortgage by means of a debt fund.
The portfolio consists of the Embassy Suites San Rafael Marin County in San Rafael, California; Embassy Suites Phoenix Downtown North in Phoenix, Arizona; Embassy Suites Atlanta Perimeter Heart in Atlanta, Georgia; Marriott Atlanta Northeast Emory Space in Atlanta, Georgia; and Highline Vail DoubleTree by Hilton in Vail, Colorado.
The portfolio properties had been acquired between 2016 and 2018 and renovated between 2018 and 2020. The properties are all in markets that are pushed by each year-round company and leisure journey, with a numerous set of demand drivers together with conference, sports activities, leisure and out of doors recreation.
Moreover, the portfolio properties profit from robust model affiliations with each Hilton and Marriott, each among the many most well-respected manufacturers within the business with the broadest reaching visitor loyalty packages. The properties all function superior working buildings, strong reservations programs, and unparalleled client recognition.
JLL’s Resorts and Hospitality workforce representing the borrower was led by Managing Director Mike Huth and Director Shalin Patel.
“The transaction offered further mortgage time period throughout the portfolio at a cash-neutral advance price, enabling the properties to season money movement,” stated Huth.
“The portfolio advantages from cross-country geographic diversification, mitigating the influence from materials adjustments in money flows from any single property,” added Patel.
JLL’s Resorts & Hospitality Group has accomplished extra transactions than every other lodges and hospitality actual property advisor over the past 5 years, totalling $83 billion worldwide. The group’s 370-strong world workforce in over 20 nations additionally closed greater than 7,350 advisory, valuation and asset administration assignments. Our resort valuation, brokerage, asset administration and consultancy companies have helped extra resort buyers, homeowners and operators obtain excessive returns on their belongings than every other actual property advisor on this planet.
