Skip Ribbon Commands
Skip to main content

Case Study

Successful Refinancing of 828-key portolio - Hyatt House extended-stay hotels

JLL's Hotels & Hospitality  was hired by RLJ Lodging Trust to secure financing to facilitate the repayment of existing debt encumbering a portfolio of extended-stay hotels maturing in April 2012. The sponsor requested a fixed- or floating-rate, non-recourse loan with a minimum term of five years.
 
The 828-key portfolio consists of six Hyatt House extended-stay hotels located in Texas and Colorado:
 
- Hyatt House Dallas / Uptown (Dallas, TX)
- Hyatt House Dallas / Lincoln Park (Dallas, TX)
- Hyatt House Dallas / Richardson (Dallas, TX)
- Hyatt House Austin / Arboretum (Austin, TX)
- Hyatt House Houston / Galleria (Houston, TX)
- Hyatt House Colorado Springs (Colorado Springs, CO)
  
The portfolio boasted strong in-place cash flow, with RevPAR up by 12.5% in 2011 and net operating income growing by 16.0% over the same period.  The portfolio's net operating income in 2011 of $7.7 million represented an in-place debt yield of 11.9%.
 
The team successfully secured a $63.0 million five-year, senior mortgage loan at a very competitive interest rate from a national domestic bank in May 2012.
 
For more information please contact Mathew Comfort, 001 212 812 5871.

All case studies

 

 

Orange Regional Medical Center/united-states/en-us/case-studies/510/orange-regional-medical-centerOrange Regional Medical CenterA campus expansion plan that encompasses an owner constructed and financed, new physician office building incorporating an ambulatory care center, along with an attached but separate cancer center addition and renovation. A consolidation and enhancement of outpatient care services on the Main Campus, for a collaborative and interdisciplinary approach for outpatient diagnostic and treatment services.
UCSF Benioff Children’s Hospital Oakland/united-states/en-us/case-studies/511/ucsf-benioff-childrens-hospital-oaklandUCSF Benioff Children’s Hospital OaklandUCSF Benioff Children's Hospital was designed in 3 separate zones: patient, caregiver and family, ensuring that “family centered” concepts were followed.
NetScout/united-states/en-us/case-studies/512/netscoutNetScoutNetScout was dealing with surplus space in their corporate office and interested in finding a more efficient solution. So JLL's Tenant Representation team jumped into action.