Finance & DevelopmentJLL Secures Financing for Five Full-Service Hotels Totaling 1,140 Keys

JLL Secures Financing for Five Full-Service Hotels Totaling 1,140 Keys

LOS ANGELES, California—JLL’s Hotels & Hospitality Group announced that it secured $153 million in senior financing for five full-service hotel properties, consisting of 1,140 keys located in California, Arizona, Colorado, and Georgia.

JLL worked on behalf of the borrower, to secure the three-year, floating-rate loan through 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 Center in Atlanta, Georgia; Marriott Atlanta Northeast Emory Area in Atlanta, Georgia; and Highline Vail DoubleTree by Hilton in Vail, Colorado.

The portfolio properties were acquired between 2016 and 2018 and renovated between 2018 and 2020. The properties are all in markets that are driven by both year-round corporate and leisure travel, with demand drivers including convention, sports, entertainment, and outdoor recreation.

JLL’s Hotels and Hospitality team representing the borrower was led by Managing Director Mike Huth and Director Shalin Patel.

“The transaction provided additional loan term across the portfolio at a cash-neutral advance rate, enabling the properties to season cash flow,” said Huth.

“The portfolio benefits from cross-country geographic diversification, mitigating the impact from material changes in cash flows from any single property,” added Patel.

RELATED ARTICLES

Accor Drives Growth and Performance in New Signings for 2025

PARIS, France—Accor shared an overview of its 2024 development activity and growth prospects for 2025. In 2024, Accor expanded its portfolio with the opening...

Hotel Seville Nomad Transitions to Hyatt’s Unbound Collection

CHICAGO, Illinois—Allen Gross, chairman of GFI Hospitality, announc­­­ed the transition of the former James NoMad Hotel to Hotel Seville NoMad, joining the Unbound Collection...

My Place Hotel-Savannah Airport/Pooler Opens

ABERDEEN, South Dakota—My Place Hotels of America has announced the opening of My Place Hotel-Savannah Airport/Pooler, Georgia, in Pooler, Georgia. The hotel is owned...

Hunter Hotel Advisors Brokers Sale of Hilton Garden Inn Louisville East

ATLANTA, Georgia—Hunter Hotel Advisors announced the sale of the Hilton Garden Inn Louisville East. HBS Investment Group purchased the property from an institutional seller...

Capitalizing on Extended-Stay Demand With the Right Brand Partner

Vinny Patel, CEO of real estate investment, development and management firm VMV Capital, has found success in the Southeastern U.S. hotel market by specializing...

AHLA: Technology Can Assist With Attracting and Retaining Hotel Workforce

WASHINGTON—As hotels continue to climb towards pre-pandemic staffing levels, they are also leveraging new tools and technologies to grow and retain their workforces and...