ORLANDO—JHM Hotels just closed on financing for a three-property hotel portfolio in Orlando. The 414-key hotel portfolio includes three select-service hotels in Orlando, Florida. Financial terms of the deal were not disclosed.
“Many lenders have a preference for portfolio lending to get out more dollars in one transaction,” HFF director Michael Weinberg, who arranged the deal with assistance from HFF real estate analyst Anthony Frogameni, tells GlobeSt.com. “This was a great opportunity to do that.”
The hotel portfolio includes the 124-key Residence Inn Orlando Convention Center at 8800 Universal Boulevard; the 167-key SpringHill Suites Orlando Convention Center at 8840 Universal Boulevard and the 123-key Hampton Inn Orlando International Airport at 5767 T.G. Lee Boulevard in Orlando. The hotels were all renovated in 2013 and 2014. Amenities include complimentary breakfast, business centers, fitness facilities and outdoor pools.
“When you have top tier sponsorship like JHM Hotels with Marriott and Hilton brands, it creates a tremendous amount of interest from lenders,” Weinberg says. “Tough to find a combination of location, conservative leverage request, sponsorship and flagships better than this portfolio represented.”
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