JLL arranges $33.25M refinancing for Orange County hotel
The Hampton Inn & Suites Irvine-Orange County Airport is less than a mile from the John Wayne Airport
SAN DIEGO, December 3, 2019 – JLL announced today that it has arranged a $33.25 million refinancing for the Hampton Inn & Suites Irvine-Orange County Airport, a 164-room, limited-service hotel in Irvine, California, less than a mile from the John Wayne Airport, Orange County.
JLL worked on behalf of the borrower, Orange County-based S3 Hotel Group, to place the 10-year, fixed-rate loan with a CMBS lender.
Hampton Inn & Suites Irvine-Orange County Airport is at 2192 Dupont Drive in the heart of Orange County within steps from the John Wayne Airport, which serves more than 10 million passengers yearly and is a strong generator of both business and leisure demand for the submarket. The hotel is proximate to several area demand drivers and popular entertainment venues, including Disneyland; University of California, Irvine; the Honda Center, home to the Anaheim Ducks NHL team; Angel Stadium of Anaheim, home of the Los Angeles Angels MLB team; and 23.7 million square feet of office space in the Airport Area Office market. Completed in March of 2018, Hampton Inn & Suites Irvine-Orange County Airport features a fitness room, pool, business center, meeting space, complimentary breakfast, lounge and snack shop.
The JLL Capital Markets team representing the seller was led by senior managing director Scott Hall and Director Olga Walsh.
“The Hampton Inn & Suites Irvine-Orange County Airport is able to capture diverse guest segments due to its strategic location in the heart of one of the nation’s most populous and affluent regions,” Walsh said. “We were able to conduct an expedient marketing campaign that resulted in 10 competitive loan quotes from top-tier CMBS lenders and specialty balance sheet lenders, validating the abundance of liquidity in the debt capital markets.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.