Fontainebleau Development obtained two loans for a combined $1.7550 Billion to refinance the 1,594-unit Fontainebleau Miami Beach, FL and the 685 key JW Marriott Miami Turnberry Resort & Spa in Aventura, FL.

In connection with 9 of its properties, Strategic Hotels & Resorts obtained a $1.58 billion securitized loan refinancing from Bank of America and German American Capital.

A joint venture between Elliott Investment Management and Trinity Investments secured an $800 million loan in connection with the 409-acre Grande Lakes Orlando Resort Orlando, FL, which includes the 1,010-room JW Marriott Orlando, Grande Lakes and 582-room Ritz-Carlton Orlando, Grande Lakes.

Clarion Partners, LLC secured a $677-million mortgage to refinance the CBM Two Hotels LP Portfolio consisting of 52 Courtyard by Marriott hotels.

MCR secured a $300 million refinancing for a 22-hotel portfolio across 14 states and with a total of 2,855 guestrooms.

Access Point Financial closed on a $133.1-million investment in Goldman Sachs ‘recent $985-million hotel portfolio refinance a 24-property hotel portfolio controlled by Atrium Holdings.

Soros Fund Management provided a $130 million to refinance the 713 room YOTEL New York Times Square in NYC.

Ashford Hospitality Trust, Inc. (NYSE: AHT) obtained a $121.5 million loan to refinance the 703-room Marriott Crystal Gateway Hotel located in Arlington, Virginia.

Barings provided a $115 million loan to refinance the Renaissance Boston Seaport Hotel in Boston, MA.

Oaktree Capital Management LP originated a $99 million loan secured by the 254-key Viewline Resort and 158-key Wildwood Hotel located in Snowmass, CO.

Wave Crest Hotels and Resorts obtained a $92.5 million loan through MetLife Investment Management in connection with Cape Rey Carlsbad Beach, a Hilton Resort & Spa and Hilton Garden Inn Carlsbad Beach, both located in Carlsbad, CA.

Creative Media & Community Trust Corporation secured a $92.2 million loan to refinance the 505 room Sheraton Grand Sacramento Hotel and parking garage in downtown Sacramento, CA.

Beach Point Capital Management provided a $88.5 million loan to refinance the dual branded 288 key Courtyard & Residence Inn Marina Del Rey, CA.

Chetrit Group obtained $88 million from Kawa Capital to refinance the under construction 280-unit Collins Park Hotel in Miami Beach, FL.

Deutsche Bank provided $83 million for Elliott Management’s acquisition of the 230 room Gates Hotel South Beach in Miami Beach, FL.

Metropolitan Commercial Bank provided BD Hotels, a $75 million construction loan to develop the 201-room Nora Hotel in West Palm Beach, FL.

Deutsche Bank provided McSam Hotel Group a $65 million loan for the 270-unit SpringHill Suites New York Queens in Long Island City, NY.

Driftwood Capital has secured $62.5 million in total refinancing for the 111 key Wylie Hotel Atlanta, GA and the 399-unit Sheraton Pittsburgh Hotel at Station Square in Pittsburgh, PA.

Fortress Investment Group provided a $28.5 million loan for the Wylie Hotel Atlanta and Starwood Mortgage Capital and Greystone Commercial Mortgage Capital have provided a $34.0 million CMBS loan for the Sheraton Pittsburgh Hotel at Station Square.

Southern Realty Trust Inc. originated a senior $57 million loan to refinance the 108 room Loren at Lady Bird Lake in Austin, TX.

West77 Partners secured a $50 million loan through a national life insurance company for the 254-key Hilton Garden Inn Seattle Bellevue Downtown in Bellevue, WA.

Mesa West Capital provided a joint venture led by Regent Partners and Mariner Group with $50 million in short-term first mortgage debt to refinance 193 key Thompson Savannah in Savannah, GA.

A joint venture between Concord Hospitality and Panorama Holdings obtained a $49.5 million loan from New York Life to refinance the 192 room Courtyard by Marriott New York World Trade Center Area in NYC.

Arch & Devonshire LLC obtained a $45 million bridge loan from Seven Hills Realty Trust in connection with its acquisition of the 178 room Club Quarters Hotel, Boston, Faneuil Hall in Boston, MA.

HALL Structured Finance provided $44 million under a first lien bridge loan for the 303 room Hyatt Regency Hotel in Frisco, Texas.

Icon Realty Management refinanced the 81-unit Moore Hotel in NYC with a $29.3 million loan from Starwood Property Trust.

Peachtree Group provided a $26.5 million loan to refinance the 75-room Hotel Saint Vincent in New Orleans, LA.

X-Caliber Holdings originated a $26.3 million debt package for Rev Development to develop Silverthorne Holiday Inn Express in Silverthorn, CO.

Finvarb Group obtained a $24 million loan from Barings to refinance the Residence Inn Tempe Downtown/University by Marriott in Tempe, AZ.

Arriba Capital closed a $17.9-million senior refinance for 111-unit voco The Darwin Hotel in Atlanta, GA.

Hillcrest Finance provided $16.68 million in acquisition financing for the 120 key Residence Inn Santa Fe, NM.

A significant volume of hotel debt originated during the past decade is slated to mature during the near term. While no major bank failures occurred during the last year, many believe the extend and pretend strategy relative to distressed capital structures can no longer endure as several lenders, particularly regional banks, have already incurred losses writing down defaulted debt on their books. The good news is that CMBS, private debt funds, and balance sheet lenders are bullish on the sector and looking to deploy capital.

Instant Insights /

Hotel Fundamentals Continue to Languish Amid Flat Occupancy Rate

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