This roundup features the latest financing of U.S. hotel industry deals and projects.
The Diplomat Beach Resort
Lender: Citi, Deutsche Bank, Ohana Real Estate Investors and Canadian Pension Plan Investment Board, brokered by JLL Hotels & Hospitality
Borrower: Trinity Investments and UBS Asset Management
Value: $575 million
Date of Loan: June 17
Location: Hollywood, Florida
Takeaway: The new refinancing for the 1,000-room property includes $452 million in floating-rate CMBS debt from Citi and Deutsche bank and $123 million in mezzazine financing from Ohana Real Estate Investors and Canadian Pension Plan Investment.
Marriott Marquis Houston
Lender: Goldman Sachs and Bank of America
Borrower: RIDA Development Corporation
Value: $325 million
Date of Loan: May 28
Location: Houston
Takeaway: The CMBS loan refinances $320 million in existing debt.
Renaissance Nashville
Borrower: Ashford Hospitality Trust
Value: $267.2 million
Date of Loan: May 9
Location: Nashville, Tennessee
Takeaway: The new two-year loan with three one-year extensions is interest-only with a floating rate of SOFR plus 2.98%.
PGA National Resort
Lender: Morgan Stanley and Wells Fargo Bank
Borrower: Brookfield/PGA National Resort Commercial Mortgage Trust
Value: $315 million
Date of Loan: April 12
Location: Palm Beach Gardens, Florida
Takeaway: The CMBS loan refinances $250 million in existing debt and pulls out $55.6 million in cash proceeds.
Aloft by Marriott New York Brooklyn
Lender: BHI
Borrower: Lam Group
Value: $41 million
Date of Loan: June 7
Location: New York, New York
Takeaway: The loan refinances the 24-story, 176-room hotel in Brooklyn.