$7.59M financing secured for The Sandbar Hotel, Trademark Collection by Wyndham
JLL Capital Markets led financing efforts for the 121-room Myrtle Beach hotel
BOSTON, Jun. 29, 2023 – JLL Capital Markets announced today that it arranged $7.59 million in financing for The Sandbar Hotel, Trademark Collection by Wyndham, a 121-key, limited-service, beachfront hotel located in Myrtle Beach, South Carolina.
JLL worked on behalf of the borrower, Linchris Hotel Corporation, to secure the first mortgage refinancing through HarborOne Bank.
The Sandbar Hotel, Trademark Collection by Wyndham is a beachfront hotel comprised of four separate buildings. The main building and the adjacent “south building” contain 88 total guest rooms, the oceanfront building consists of 27 guest rooms, and there are two, three-bedroom cottages located one street behind the main building. Additionally, the hotel includes four one-bedroom apartments and an additional parcel of land currently being used for 28 parking spaces.
Located along the beach at 1804 South Ocean Blvd., the hotel is well-positioned to attract the diverse customer base of Myrtle Beach’s 20 million annual visitors. The hotel is located in close proximity to the Myrtle Beach International Airport and many popular tourist attractions including beaches, restaurants and several world-class golf courses. Further, the hotel boasts top-tier amenities that include a heated indoor pool and hot tub, an outdoor pool with a lazy river and hot tub, a 24-hour business center, a 24-hour fitness center, a breakfast area and direct beach access. Formerly a Best Western Plus, the hotel was rebranded to The Sandbar Hotel as part of the Trademark collection by Wyndham in September 2022.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 $20.9 billion and operations in over 80 countries around the world, our more than 103,000 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 jll.com.
About Linchris Hotel Corporation
Built on the premise that good service is paramount to the financial success of any hotel, Linchris Hotel Corporation is a growing hotel management company with an outstanding reputation for high quality and first-rate service in hotel property management and the hospitality industry. Linchris Hotel Corporation has a proven track record for consistently adding value to the hotel properties under its management, which allows them to achieve the highest hospitality industry standards and top performance ratings from guests and hotel industry critics alike. linchris.com
About HarborOne Bank
HarborOne Bank, headquartered in Massachusetts, has $4.57 billion in assets. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities in Massachusetts and Rhode Island through a network of 30 full-service branches and commercial loan offices in Providence and Boston. The Bank also provides a range of educational services through "HarborOne U," with content and classes available on personal finance and small business delivered virtually as well as at community locations throughout Massachusetts and Rhode Island. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, is a full-service mortgage lender with offices throughout Massachusetts, Rhode Island, and New Hampshire and is licensed in six additional states.