News release

JLL arranges $215M refinancing for Philadelphia Marriott Downtown on behalf of Oaktree and Clearview Hotel Capital, LLC

JLL’s Hotels & Hospitality Group arranged the refinancing for the 1,408-key hotel

November 06, 2023

Alli Semans

Hotels & Hospitality and Capital Markets PR
+1 330 329 6750

NEW YORK CITY, Nov. 6, 2023 –  JLL’s Hotels & Hospitality group announced today that it arranged a new $215 million, five-year, fixed-rate term loan to refinance the Philadelphia Marriott Downtown, a 1,408-key hotel in Philadelphia, Pennsylvania. The loan closed on October 25, 2023.

JLL represented a joint venture between funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Clearview Hotel Capital, LLC. Barclays, Wells Fargo and J.P. Morgan were the lenders.

Located at 1201 Market Street, the Philadelphia Marriott Downtown is the largest hotel in downtown Philadelphia and is strategically located in the Center City neighbourhood, two blocks from City Hall. The hotel consists of a 1,198-key main tower built in 1994 and the 210-key historic Headhouse Tower, which served as the passenger station and company headquarters for Reading Terminal Train station from 1893 to 1984. The hotel offers over 93,000 square feet of meeting space spread across 72 event venues and it is the only hotel that is directly connected to the Pennsylvania Convention Center. 

The Philadelphia Marriott Downtown underwent a full-scale renovation between 2020 and 2023 and features generously sized guestrooms with luxury finishes, including 75 signature suites, along with modernized public spaces. The hotel amenities include a 24-hour fitness center, an indoor pool, a lobby lounge, restaurant and new pub with duckpin bowling and billiards.

The JLL team was led by Hotels & Hospitality Group Americas CEO Kevin Davis, Senior Managing Director Ryan Ade, Managing Director Mark Fisher, Senior Vice President Barnett Wu and Analyst Caleigh O’Connell.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

For more news, videos and research resources, please visit JLL’s newsroom.

About Oaktree 

Oaktree is a leader among global investment managers specializing in alternative investments, with $183 billion in assets under management as of September 30, 2023. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,200 employees and offices in 21 cities worldwide. For additional information, please visit Oaktree’s website at 


About Clearview Hotel Capital, LLC

Clearview is a privately-held hotel investment and advisory company focused on hotel acquisitions and management in urban and unique locations. Founded in 2007 by Jon Kline, Clearview has acquired over $2.0 billion of hotels containing over 17,000 rooms and completed over $170 million of renovations.


About Barclays

Barclays is a British universal bank. We are diversified by business, by different types of customer and client, and geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group. For further information about Barclays, please visit our website


About J.P. Morgan

Information about J.P.Morgan Chase & Co. (NYSE: JPM) is available at


About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit