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JLL secures $87 million loan for Loews Regency San Francisco
SAN FRANCISCO, Oct. 20, 2015 – On behalf of Loews Hotels and Resorts, JLL today announced the firm has secured an $87 million loan for the Loews Regency San Francisco from Bank of China USA.
Formerly known as the Mandarin Oriental San Francisco, the luxury hotel was converted to the Loews Regency brand following Loews Hotels’ April 2015 acquisition of the luxury property. The hotel, which is now operated by Loews Hotels & Resorts, is part of the company’s growing portfolio and joins the iconic Loews Regency New York City in the company’s new Loews Regency Brand.
Senior Vice President Mike Huth, Managing Director John Manning, and Executive Vice Presidents Kevin Davis and Alex Witt led the JLL team on the transaction.
“The newly rebranded Loews Regency San Francisco is a truly remarkable hotel with unparalleled views and impeccable service,” said Huth. “The quality of the asset, the strength of the local market, and the world class sponsorship presented lenders with a really rare and attractive financing opportunity.”
Added Manning, “San Francisco is an international gateway market with significant barriers-to-entry and favourable supply and demand fundamentals that are driving competition among domestic and international lenders seeking to gain market presence.”
Located in the heart of the Financial District, and within walking distance to Union Square and Fisherman’s Wharf, the Loews Regency San Francisco is situated on the top eleven floors of San Francisco’s third-tallest building, which was financed last year by JLL. Each of the 155 guest rooms and suites boast unparalleled views of the Golden Gate city and the Bay. The hotel offers warm and engaging service, world-class amenities, fresh and seasonal menus at Brasserie S&P, more than 5,000 square feet of meeting space and a new 8,000-square-foot spa and fitness center. Loews Regency San Francisco was recently voted one of the Top 25 Continental U.S. Large City Hotels by Travel + Leisure World’s Best Awards, 2015.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor in the world over the last five years, totaling US$63.7 billion. Between negotiating deals, the group’s 320-strong global team also closed 4,500 advisory, valuation and asset management assignments. The firm is recognized as the global leader in real estate services across hospitality properties from luxury, upscale, select service and budget hotels to timeshare and fractional ownership properties, convention centers and mixed-use developments. Investors and owner/operators worldwide turn to JLL to shape their investment strategies and maximize the value of their assets and JLL’s expert advice is backed by industry-leading research. For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality, download the Hotels & Hospitality Group app for iOS and Android, or view our e-magazine The Hotel Investor, available for iPad.
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com. About Loews Hotels and ResortsHeadquartered in New York City, Loews Hotels & Resorts has three distinct brands, Loews Hotels & Resorts, Loews Regency and OE Collection. The company owns and/or operates 23 hotels and resorts across the U.S. and Canada, including the newly acquired Loews Regency San Francisco, situated in the heart of San Francisco’s Financial District and the new 400-room Loews Chicago which debuted downtown in March 2015. Loews Sapphire Falls Resort, the fifth hotel in partnership with Universal Orlando, will open in Summer 2016. Located in major city centers and resort destinations from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with exciting, approachable and local travel experiences. For reservations or more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit: www.loewshotels.com.
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