JLL Hotels & Hospitality group arranges $620 million acquisition financing for Hyatt Regency Orlando, a 1,641-key convention center resort near Orlando’s top tourist attractions

 

Hyatt Regency Orlando,  a 1,641-key, AAA
 Four Diamond resort in Orlando, FL

 ORLANDO, FL, Aug. 19, 2024 – JLL Hotels & Hospitality group announced today that it secured $620 million in acquisition financing for Hyatt Regency Orlando, a 1,641-key, AAA Four Diamond resort in Orlando, Florida.

 

JLL represented affiliates of RIDA Development Corporation and an Ares Management Real Estate fund to secure the floating-rate, five-year loan through Wells Fargo, Bank of America and Deutsche Bank on behalf of borrowers.

Kevin Davis, 

The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mike Huth and Senior Director Barnett Wu.

 

“We are pleased to have worked together with RIDA, Ares, and Hyatt in this transaction,” said Davis. “We enjoyed working with the sponsors in their strategic vision for the future of the Orlando convention district and look forward to continuing to work with all the stakeholders in the future.”

 

This premier resort offers spacious guest rooms averaging 453 square feet and suites averaging 846 square feet. The accommodations feature marble-accented bathrooms, sleeper sofas, mini-fridges and 65-inch streaming TVs.

 Mike Huth

Guests can also enjoy in a variety of amenities, including six dining options, a 24-hour fitness center, tennis courts, a spa and an outdoor pool.

 

Furthermore, the hotel features 315,000 square feet of meeting and event space along with its three direct connections to the Orange County Convention Center (“OCCC”), the second largest convention center in the United States.

 

                                                 Barnett Wu.

 

Located at 9801 International Drive, the property also provides exceptional proximity to top Orlando demand generators, such as Walt Disney World and Universal Studios. Both attractions are conveniently less than a 15-minute drive away.

 

Additionally, Universal Orlando is constructing Epic Universe, its largest theme park in the United States spanning 750 acres, situated just minutes from the hotel. Epic Universe is set to open in 2025.

 

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

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 

JLL Capital Markets facilitates financing for Andover Properties’ self-storage facility in Fort Myers, FL

 

Storage King USA Fort Myers Highway 80,
 633-unit self-storage facility, Fort Myers, FL 

DALLAS, TX –  JLL Capital Markets has arranged refinancing for Storage King USA – Fort Myers Highway 80, a 633-unit self-storage facility in Fort Myers, Florida. Financial details were not disclosed.

 

Working on behalf of Andover Properties, JLL secured a five-year loan from Choice Bank. The proceeds will refinance the existing loan and fund Phase II development, adding 89,721 square feet of additional storage space.

 

Located at 11351 Palm Beach Blvd., Storage King USA benefits from high visibility with over 30,000 vehicles passing daily. Fort Myers is experiencing rapid population growth yet remains underserved in the self-storage sector.

Babcock Ranch community development, 
near Fort Myers, FL

The facility is also near Babcock Ranch, a major development projected to add approximately 20,000 new homes and 50,000 residents.

 

John Bauman 

Originally built in 2004 and first expanded in 2019, Storage King USA – Fort Myers Highway 80 offers area customers 55,353 square feet of rentable space in a mix of climate-controlled and non-climate-controlled units. 

The 13.36-acre site has gated access and recorded video surveillance and offers space for boat and RV storage.

 

The JLL Capital Markets Self-Storage team was led by Directors John Bauman and John Williamson who were supported by Lee Weaver and Alex Riva from JLL’s Central Florida team.

John Williamson 

“The property is exceptionally positioned to capitalize on the growing influx of residents with growing storage needs to the Ft. Myers area given there is virtually no competition within its trade area and no planned developments underway,” Williamson said.

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.

 Lee Weaver

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

 CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 

JLL Capital Markets leAds the $52 million refinancing effort with MidCap Financial providing loan for the 168-unit Atria Newport Beach in Newport Beach, CA

  

Atria Newport Beach, a 168-unit senior living
community in Orange County, CA.

SAN DIEGO, CA –  JLL Capital Markets announced today that it arranged a $52 million refinancing for Atria Newport Beach, a 168-unit senior living community located in the Newport Beach enclave of Orange County, California.

 

JLL represented the borrower, a partnership between a national REIT and Atria Senior Living. MidCap Financial, a leading commercial finance company focused on middle market transactions, provided the floating-rate first mortgage loan.

 

Atria Newport Beach is located at 393 Hospital Rd. in a prime location with high visibility off of Newport Boulevard and in close proximity to Hoag Hospital. The Newport Beach area is one of the most affluent communities in Southern California and provides the property with exceptional surrounding demographics.

Aaron Rosenzweig

The Class A property was built in two phases with the North Building fully renovated in 2023, while the South Building was purpose-built and opened in 2021. The three-story buildings are home to independent living, assisted living, and memory care units offered in studio, one- and two-bedroom layouts. 

Community amenities include 24-hour support staff, all-day dining, valet and concierge services, fitness classes, car service, housekeeping, salon and spa, yoga studio, theatre, library, game room and an underground parking garage.

Dan Baker

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Aaron Rosenzweig and Director Dan Baker.

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.

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

CONTACT: Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com

 

CA  RE license # 02111877

us.jll.com/capitalmarkets

Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413

Viewpoint Development acquires iconic restaurant building in San Diego’s Old Town area for $9 million

  

SAN DIEGO, CA – Confirming the demand for well-located real estate, JLL and Flocke & Avoyer Commercial real estate announced that Viewpoint Development has acquired a 4,000-square-foot restaurant building located on 1.74 acres at 4620 Pacific Highway in San Diego, California for $9 million. 

 Brian Quinn

 

Viewpoint Development will develop residential housing on the site recently occupied by the iconic Perry’s Café restaurant with a portion of the historic cafe repurposed as part of the project. The company is still going through design approvals with the city for the new development.

JLL’s Brian Quinn and Steve Avoyer of Flocke & Avoyer Commercial Real Estate represented the seller, Georgakopoulus Family LLC, as well as Viewpoint Development in the sale.

 Steve Avoyer 

“Despite the economic and real estate challenges of this type of deal, we were able to work with both sides to get the closing to the finish line,” said Quinn, JLL Senior Vice President. “This was a collaborative effort by all parties to find the right buyer while overcoming environmental and historic issues.”

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry: 

I do what I love and love what I do.”

 

 

 

 

JLL Capital Markets facilitates $70 million bridge loan for Atlantica at Town Center, a Class A apartment community in Davenport, FL

 

Atlantica at Town Center– Phase I, a Class A,
360-unit apartment community in Davenport, FL

 MIAMI, FL –  JLL Capital Markets has secured a $69.57 million refinancing for Atlantica at Town Center – Phase I, a Class A, 360-unit apartment community in Davenport, Florida.

 

JLL worked on behalf of the borrower, Sovereign Properties and Invest Capital Group, to secure the two-year, floating-rate bridge loan through Timbercreek Capital.

Gregory Nalbandian

Completed in December 2022, the property features 14 three- and four-story residential buildings, comprising of one-, two- and three-bedroom units ranging from 683 square feet to 1,435 square feet, which are some of the largest units in the area. 

Additionally, this garden-style community offers residents numerous sought-after amenities, such as a large resort-style pool, gaming lawn, dog park, pet spa, fitness center, yoga and spin room, demonstration kitchen and coworking space.

Kenny Cutler 

Located at 1121 Loblolly Lane, Atlantica at Town Center offers residents effortless access to a diverse array of cultural and entertainment destinations, including regional shopping centers, Posner Park, Orlando International Airport and Downtown Orlando. 

Furthermore, the property is less than 15 miles away from Walt Disney World and Universal Studios as well as major employers such as Advent Health, Orlando Health, Amazon, FedEx, Darden, Wyndham and Walmart.

Josh Odessky

The JLL Debt Advisory team was led by Senior Managing Director Gregory Nalbandian, Director Kenny Cutler and Director Josh Odessky.

 

“Timbercreek Capital did an exceptional job meeting all of the client’s objectives and understanding this property’s competitive position within the Orlando MSA which is currently experiencing a number of new projects coming online,” stated Nalbandian.

CONTACT:

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877

us.jll.com/capitalmarkets

Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413