HFF announced that it has secured a $581 million refinancing for a 16-property, 4,798-room hotel portfolio and golf course/tennis club located in major markets throughout the United States.
Working exclusively on behalf of affiliates of The Blackstone Group, L.P., HFF placed the three-year, floating-rate loan with GE Capital Real Estate. The loan has two one-year extension options.
The portfolio is comprised of 12 full-service hotels, four boutique hotels and one golf course/tennis club. The hotels are: Sheraton San Francisco Fisherman’s Wharf in San Francisco, CA; Hilton Irvine-Orange County Airport, and Marriott Irvine in Irvine, CA; DoubleTree Austin in Austin, TX; DoubleTree Suites Indianapolis-Carmel in Carmel, IN; Hilton Clearwater Beach Resort in Clearwater, FL; South Seas Island Resort in Captiva Island, FL; The Inns of Sanibel (four boutique hotels) and The Dunes Golf and Tennis Club in Sanibel Island, FL; DoubleTree Orlando-Universal in Orlando, FL; Hilton Cocoa Beach Oceanfront in Cocoa Beach, FL; Hilton Key Largo Beach Resort in Key Largo, FL; The Ritz-Carlton Pentagon City in Arlington, VA; and the Marriott Princeton-Forrestal in Princeton, NJ.
The HFF team representing the borrower was led by senior managing directors Trey Morsbach and Dan Peek and managing director John Bourret.
According to HFF, this was an exceptional opportunity to finance a first-class, institutional sponsor with premium-branded assets in strong, major markets.
