 |
| Islamorada Resort, Islamorada, FL |
MIAMI, FL – HFF announced it has secured a $25.9 million
financing for The Islamorada Resort,
a boutique, oceanfront property in Islamorada, Florida.
Working on behalf of the borrower, an affiliate of The
Carlyle Group, HFF secured the loan through Bank of the Ozarks.
Proceeds from the financing will be used to
implement the borrower’s plans for upgrades at the resort.
The
resort is located at 80001 Overseas Highway in the Village of Islamorada,
approximately 80 miles from both Key West and Miami.
 |
| Max Comess |
The five-story hotel is situated on an expansive oceanfront
parcel and features 79 guest rooms and suites, Oceans 80 restaurant and tiki
bar, a resort-style pool, private beach, and marina.
The borrower, working in
conjunction with leading boutique hotel operator, Trust Hospitality, and
renowned hospitality architect, Malcolm Berg, is spearheading the renovation
and repositioning of the property.
The HFF capital markets team
representing the borrower was led by directors Max Comess and Chris
Drew and analysts Maxx Carney and Alexandra Lalos of HFF’s
Miami office.
“We are pleased to deliver attractive financing that will
enable this visionary investor to execute an exciting plan for the resort,”
Comess said. “The Florida Keys represent one of the country’s strongest hotel
markets, making it extremely attractive to both investors and lenders in the
hospitality space.”
“This financing provides further evidence of the
unprecedented liquidity across the capital stack for hotels that exists in the
market today,” Drew added. “There has never been a better environment for
strong borrowers to consume capital.”
 |
| Alexandra Lalos |
HFF’s
Hotel Group has been active in the sale and financing of similar hotels across
the country. In the first half of 2014,
the firm financed or sold 44 hotels and resorts with total transaction volume
totaling nearly $1.2 billion.
The group previously arranged the sale and
financing of the Cheeca Lodge and Spa in Islamorada and is presently involved
in numerous Florida Keys and South Florida hotel and resort transactions.
The
Carlyle Group is a global alternative asset manager with more than $203 billion
in assets under management across 126 funds and 139 fund of funds vehicles.
Founded in 1987 in Washington, D.C., Carlyle has grown into one of the world’s
largest and most successful investment firms, with more than 1,600
professionals operating in 40 offices in North America, South America, Europe,
the Middle East, North Africa, Sub-Saharan Africa, Japan, Asia and Australia.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
No comments:
Post a Comment