JLL Hotels & Hospitality group arranged acquisition
financing for the 1,641-key convention center resort near
Orlando's top tourist
attractions
ORLANDO, Aug. 19,
2024 /PRNewswire/ -- JLL Hotels &
Hospitality group announced today that it secured $620 million in acquisition financing for Hyatt
Regency Orlando, a 1,641-key, AAA Four Diamond resort in
Orlando, Florida.
JLL represented affiliates of RIDA Development Corporation and
an Ares Management Real Estate fund to secure the floating-rate,
five-year loan through Wells Fargo, Bank of America and Deutsche
Bank on behalf of borrowers.
This premier resort offers spacious guest rooms averaging 453
square feet and suites averaging 846 square feet. The
accommodations feature marble-accented bathrooms, sleeper sofas,
mini-fridges and 65-inch streaming TVs.
Guests can also enjoy in a variety of amenities, including six
dining options, a 24-hour fitness center, tennis courts, a spa and
an outdoor pool. Furthermore, the hotel features 315,000 square
feet of meeting and event space along with its three direct
connections to the Orange County
Convention Center ("OCCC"), the second largest convention center in
the United States.
Located at 9801 International Drive, the property also provides
exceptional proximity to top Orlando demand generators, such as
Walt Disney World and Universal
Studios. Both attractions are conveniently less than a 15-minute
drive away. Additionally, Universal Orlando is constructing Epic
Universe, its largest theme park in the
United States spanning 750 acres, situated just minutes from
the hotel. Epic Universe is set to open in 2025.
The JLL Hotels & Hospitality team was led by Americas CEO
Kevin Davis, Managing Director
Mike Huth and Senior Director
Barnett Wu.
"We are pleased to have worked together with RIDA, Ares, and
Hyatt in this transaction," said Davis. "We enjoyed working with
the sponsors in their strategic vision for the future of the
Orlando convention district and
look forward to continuing to work with all the stakeholders in the
future."
JLL's Hotels & Hospitality Group has completed more
transactions than any other hotels and hospitality real estate
advisor over the last five years, totaling $83 billion worldwide. The group's 370-strong
global team in over 20 countries also closed more than 7,350
advisory, valuation and asset management assignments. Our hotel
valuation, brokerage, asset management and consultancy services
have helped more hotel investors, owners and operators achieve high
returns on their assets than any other real estate advisor in the
world.
For more news, videos and research resources, please visit
JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial
real estate and investment management company, has helped clients
buy, build, occupy, manage and invest in a variety of commercial,
industrial, hotel, residential and retail properties. A Fortune
500® company with annual revenue of $20.8 billion and operations in over 80 countries
around the world, our more than 110,000 employees bring the power
of a global platform combined with local expertise. Driven by our
purpose to shape the future of real estate for a better world, we
help our clients, people and communities SEE A BRIGHTER
WAYSM. JLL is the brand name, and a registered
trademark, of Jones Lang LaSalle Incorporated. For further
information, visit jll.com.
Contact: Grace Lewis, JLL PR
Phone: +1 903 520 3478
Email: grace.lewis@jll.com
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SOURCE JLL