$110M Refinancing Secured for Hilton Pensacola Seaside and Vacation Inn Resort Pensacola Seaside Lodges in Pensacola Seaside, FL – Resort Information Useful resource
JLLs Lodges & Hospitality Group organized financing for the resort portfolio on behalf of Innisfree Lodges
JLL’s Lodges & Hospitality Group introduced that it has organized a $110 million refinancing for 2 adjoining beachfront resorts totaling 481 keys in Pensacola Seaside, Florida.
JLL represented the borrower, Innisfree Lodges, in securing the five-year, fixed-rate mortgage with versatile reimbursement choices by a regional financial institution. The mortgage proceeds have been used to repay a maturing CMBS mortgage secured by JLL 10 years in the past. As well as, the mortgage included over $18 million for future capital enhancements and $23 million of money again to the sponsorship. This transaction represents over $500 million in financings secured for Innisfree Lodges.
The primary resort is the 275-key Hilton Pensacola Seaside which provides a mixture of conventional visitor rooms in addition to one-, two- and three-bedroom suites. The property options 15,000 sq. toes of assembly area, two out of doors swimming pools, an indoor heated pool, a sizzling tub, seashore entry, a health middle and the Luna High-quality Artwork Gallery. The resort additionally provides 4 meals and beverage shops, together with Butler’s Pantry, Bonsai, Sal De Mar and H2O Grill.
The second resort is the Vacation Inn Resort Pensacola Seaside which provides 206 visitor rooms and suites. The property contains a 250-foot lazy river pool, health middle, desk tennis, indoor pool, out of doors pool and out of doors whirlpool. The property has two meals and beverage shops, Riptides Sports activities Bar and Gulf Entrance Tiki Bar, and 6,500 sq. toes of assembly area.
Situated at 12 and 14 Through De Luna Dr., each resorts have roughly 300 sq. toes of frontage on Pensacola Seaside. The resorts are positioned 12.5 miles from the Pensacola Worldwide Airport, which providers greater than 20 locations provided by eight airways. The properties can be reached through the Pensacola Bay Bridge. Close by native points of interest embrace Pensacola Seaside Gulf Fishing Pier, Pensacola Museum of Artwork, Pensacola MESS Corridor, Gulf Breeze Zoo, Splash Metropolis Adventures and extra.
The JLL Lodges & Hospitality group representing the borrower was led by Government Vice President Jeff Bucaro, Senior Affiliate Maddie Blount and Analyst Mark DesLauries.