ORLANDO—The Grand Bohemian Hotel Orlando,, a 247-room luxury hotel in the heart of Downtown Orlando, has secured refinancing. Ownership closed on a $60-million loan.
HFF director Michael Weinberg lead the firm's debt placement team on the deal. HFF represented the borrower, Xenia Hotels & Resorts, to facilitate the 10-year, fixed-rate loan with MetLife. Xenia will use loan proceeds to refinance an existing loan.
“The debt capital markets have been choppy for a few quarters now particularly with regards to hospitality assets,” Weinberg tells GlobeSt.com. “The financings that are closing during this turbulence are the ones with top notch sponsorship like we had here with Xenia Hotels & Resorts.”
Grand Bohemian Hotel Orlando is an AAA Four Diamond award-winning hotel. US News & World Report named the hotel the sixth Best Orlando Hotel in 2015. Part of Marriott's Autograph Collection, the hotel features 9,117 square feet of meeting and ballroom space, 1,518 square feet of pre-function space, a heated outdoor pool and whirlpool, Poseidon Spa, 24-hour fitness center, Grand Bohemian Art Gallery, and three food and beverage options.
“We are bullish on Downtown Orlando and its future growth potential,” says Weinberg. “We have seen strong demand from debt and equity capital firsthand, having sold or financed some of the premier assets in the submarket, such as Grand Bohemian and Embassy Suites.”
Completed in 2001, the hotel is located at 325 South Orange Avenue. That's across the street from the new Dr. Phillips Center for the Performing Arts, a nine-acre venue with three performance theaters and an outdoor performance plaza. The hotel is near 10 million square feet of office space and surrounded by restaurants, nightlife, parks, shopping and entertainment venues, including the Amway Center, home to the Orlando Magic NBA team.
ORLANDO—The Grand Bohemian Hotel Orlando,, a 247-room luxury hotel in the heart of Downtown Orlando, has secured refinancing. Ownership closed on a $60-million loan.
HFF director Michael Weinberg lead the firm's debt placement team on the deal. HFF represented the borrower, Xenia Hotels & Resorts, to facilitate the 10-year, fixed-rate loan with
“The debt capital markets have been choppy for a few quarters now particularly with regards to hospitality assets,” Weinberg tells GlobeSt.com. “The financings that are closing during this turbulence are the ones with top notch sponsorship like we had here with Xenia Hotels & Resorts.”
Grand Bohemian Hotel Orlando is an AAA Four Diamond award-winning hotel. US News & World Report named the hotel the sixth Best Orlando Hotel in 2015. Part of Marriott's Autograph Collection, the hotel features 9,117 square feet of meeting and ballroom space, 1,518 square feet of pre-function space, a heated outdoor pool and whirlpool, Poseidon Spa, 24-hour fitness center, Grand Bohemian Art Gallery, and three food and beverage options.
“We are bullish on Downtown Orlando and its future growth potential,” says Weinberg. “We have seen strong demand from debt and equity capital firsthand, having sold or financed some of the premier assets in the submarket, such as Grand Bohemian and Embassy Suites.”
Completed in 2001, the hotel is located at 325 South Orange Avenue. That's across the street from the new Dr. Phillips Center for the Performing Arts, a nine-acre venue with three performance theaters and an outdoor performance plaza. The hotel is near 10 million square feet of office space and surrounded by restaurants, nightlife, parks, shopping and entertainment venues, including the Amway Center, home to the Orlando Magic NBA team.
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