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SAVANNAH, Georgia, Mar. 16, 2018 – JLL announced today that it arranged the sale of The Westin Savannah Harbor Golf Resort & Spa in Savannah, Georgia on behalf of CSX Corporation & Marriott International. Clearview Hotel Capital, LLC and Diversified REI Holdings, LLC, a member of Starr Companies, purchased the property and JLL also arranged the acquisition financing for the sale from Ramsfield Hospitality Finance.
Managing Director Gregory Rumpel and Senior Vice President Andrew Dickey led the JLL team on the sale. Managing Director Kevin Davis and Senior Vice President Nick Baer led the JLL team on the financing.
"Savannah hotels benefit from strong leisure demand on weekends and group demand during the week, helping them achieve high occupancy rates year-round," said Rumpel. "This property's urban resort setting, luxurious amenities and superior brand affiliation made it a valuable opportunity for investors."
The Westin Savannah Harbor Golf Resort & Spa features the 403-key Westin hotel, a Championship 18-hole golf course, 21-room spa, tennis complex and marina. Overlooking the Savannah River and Historic District of Savannah, the resort offers guests sweeping views of the riverfront and convenient access to all of Historic Savannah's retail, dining and entertainment options.
JLL's Hotels & Hospitality Group has completed more transactions than any other hotel and hospitality real estate advisor over the last five years globally, totaling more than $77.5 billion worldwide. Between negotiating property deals, the group's 350-person global team also closed more than 5,300 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
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