NEW YORK CITY, New York—JLL’s Hotels & Hospitality Group announced that it has arranged a $136 million refinancing for the Fairmont Orchid, a 540-key luxury resort located on Hawaii’s Big Island.
JLL worked on behalf of the borrower, Mirae Asset Global Investments Co., Ltd., to secure a five-year, fixed-rate loan through New York Life Real Estate Investors (NYLREI).
“We are pleased to have closed the financing of the Fairmont Orchid, a premier luxury full-service resort,” said James Nearon, senior director of NYLREI’s West Coast originations team. “This transaction underscores New York Life Real Estate Investors’ capability to structure and execute financing solutions on high-quality hospitality assets. The strong sponsorship of Mirae Asset Global Investments and attractive market fundamentals made this a compelling opportunity that fits nicely within our broader lending strategy.”
The Fairmont Orchid is situated on 32.6 oceanfront acres along the Kohala Coast. The full-service property features a crescent-shaped white sand beach fronting Pauoa Bay, a 10,000-square-foot oceanfront pool, a full-service spa, a fitness center, retail shops, and a ten-court tennis facility. Guests can enjoy seven on-site food and beverage outlets, including Brown’s Beach House restaurant. With approximately 108,000 square feet of meeting space, the resort is also equipped to host large events and conferences.
Additionally, the hotel is located within the 3,200-acre Mauna Lani Resort community, offering guests access to a golf course, shopping, and ancient Hawaiian sites. Situated less than 30 minutes from Kona International Airport, the property is also within close proximity to major attractions like Akaka Falls National Park, Hilo, Mauna Loa Forest Reserve, and Hawaii Volcanoes National Park.
The property owner, Mirae Asset Global Investments Co., Ltd., is undertaking a multi-year, $110 million renovation project, with the first phase scheduled for completion this year. The upgrades have enhanced the resort’s luxury positioning and are expected to drive significant improvements in both top-line and bottom-line performance.
The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, managing director Mike Huth, senior associate Maddie Blount, and analyst Jade Lewin.
“The Fairmont Orchid’s prime oceanfront location, strong cash flow, and recent renovations generated significant lender interest,” said Davis. “The financing terms secured not only reflect confidence in the asset but also in the continued strength and resilience of Hawaii’s luxury hospitality sector.”
