This roundup features the latest financing of U.S. hotel industry deals and projects.
La Quinta I Drive/Convention Center Hotel
Lender: A Florida bank brokered by Cronheim Hotel Capital
Borrower: Everwood Hospitality Partners
Location: Orlando, Florida
Date of Loan: Dec. 26, 2022
Takeaway: The five-year loan covers 65% of the acquisition and renovation of the hotel.
Le Pavillon Hotel
Borrower: Ashford Hospitality Trust
Value: $37 million
Location: New Orleans, Louisiana
Date of Loan: Dec. 22, 2022
Takeaway: The non-recourse loan is interest-only with a two-year initial term and three, one-year extension options. It refinances existing debt that was set to mature in January 2023.
Six-Property, Mixed-Use Portfolio Including The Estate Complex
Lender: A group of four lenders, brokered by JLL Capital Markets
Borrower: Boardwalk Investments Group
Value: $245 million
Location: The 22-acre, 193-room Estate, along with one other property, is in Yountville, California. Other properties in the portfolio are in Laguna Beach, Del Mar, New Port Beach and San Diego.
Date of Loan: Dec. 14, 2022
Takeaway: JLL executives said there was a "deep lender pool" for the acquisition of the portfolio.
Cape Codder Resort & Spa
Lender: HarborOne Bank, brokered by JLL Capital Markets
Borrower: Linchris Hotel Corporation
Location: Hyannis, Massachusetts
Date of Loan: Dec. 13, 2022
Takeaway: The property was sold by Catania Hospitality Group.
Two Beachfront Hotels in Pensacola Beach, Florida
Lender: A regional bank, brokered by JLL Hotels & Hospitality Group
Borrower: Innisfree Hotels
Value: $110 million
Date of Loan: Dec. 12, 2022
Takeaway: The five-year, fixed-rate loan was used to refinance a maturing CMBS loan for the 275-room Hilton Pensacola Beach and the 206-room Holiday Inn Resort Pensacola Beach.