JLL’s Hotels & Hospitality Group arranges $215 million refinancing for the 1,408-key Philadelphia Marriott Downtown on behalf of Oaktree and Clearview Hotel Capital, LLC

 

Caleigh O’Connell.

 

Kevin Davis

NEW YORK CITY, NY –  JLL’s Hotels & Hospitality group has 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.

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.

 

Ryan Ade,

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. 

 

Mark Fisher

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.

  

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.

 

Barnett Wu

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.

 Contact:

Alli Stent (Semans)

PR, Hotels & Hospitality,

 Capital Markets

JLL
M +1 330 329 6750

 

Seed Property Group Names Kristofer Kasper Director of Land and Commercial properties in Central Texas

SEED Founder Tammy Young and
 Director of Land & Commercial properties
Kristopher Kasper. (Photo Credit: Alison Eden)

AUSTIN, TX. Nov. 9, 2023 — SEED Property Group at Compass, one of Austin's top-producing real estate teams, announces the expansion of its services to include land and commercial properties.

 

This strategic move comes with the addition of Kristofer Kasper, former principal of The Miles Real Estate Group, and Sabrina Kennedy, a specialist in residential and commercial real estate, both in Georgetown, TX.

 

 With their addition, SEED’s combined transaction volume exceeded $300 million over the course of 24 months.  As the newly appointed director of land and commercial, Kasper will lead efforts to expand SEED’s footprint in the Central Texas market. 

Sabrina Kennedy

"I’m thrilled to announce that we are expanding our real estate services so we can help meet the needs of a more diverse clientele,” says SEED Property Group Founder Tammy Young. 

“Whether you are a business owner seeking expansion opportunity, an individual looking for recreational or ranch properties, or a small business owner looking for a store front, we have the ability to help you by providing personalized solutions tailored to each clients’ specific goals,” she goes on to say.

An accomplished real estate professional, Kasper earned his undergraduate degree summa cum laude from Texas Christian University (TCU) and went on to graduate with honors from the University of Texas School of Law.

Kasper began his legal career at the prestigious law firm of Armbrust & Brown, PLLC where he was partner specializing in entitlements, commercial, and residential real estate issues.

 After practicing real estate law, Kasper transitioned into the role of agent/broker. His expertise spans residential, land, and commercial properties, both for clients and personal investment.

 

 He has also earned his Accredited Land Consultant (ALC) and Graduate Realtors Institute (GRI) designations.

 

Contact:

Ashley Rodgers

Director of Marketing,

 SEED Property Group

 

m: 310.977.7683

2500 Bee Caves Rd

Building 3, Suite 200

Austin, TX 78746

www.seedpropertygroup.com.