Sculptor Real Estate and Trinity Investments have teamed up to acquire a Southwest Florida beach resort hotel for $835 million. This marks the close of the deal, with JLL announcing it has arranged a $690 million floating-rate loan that was provided by Wells Fargo and JPMorgan Chase & Co.
The debt carries a term of five years. JLL also backed Barings, which was the seller of the property called JW Marriott Marco Island Beach Resort.
Sculptor first announced the agreement to buy the property in a February filing with the U.S. Securities and Exchange Commission.
Kevin Davis, CEO of JLL Hotels & Hospitality of Americas, noted that there is a high demand right now for beachfront properties like JW Marriott Marco Island.
"The successful execution of this transaction across both equity and debt underscores the depth of JLL's capital markets platform and our relationships with buyers and lenders focused on high-quality hotel assets," he said in a statement.
"Luxury beachfront resorts of this caliber remain among the most sought-after assets in the hospitality sector, particularly properties like the JW Marriott Marco Island that combine scale, irreplaceable coastal positioning, championship golf amenities and recurring membership income — attributes that generate stable cash flows and provide insulation against market volatility while offering meaningful upside potential."
Sitting on 26.7 acres, JW Marriott Marco Island hosts 809 luxury rooms and suites that all have private balconies. Amenities include two golf courses, 12 eateries, five swimming pools, a 24,000 square foot spa, an entertainment venue, fitness centers, business centers and more than 140,000 square feet of event and meeting space.
Also, the property features a private membership club with roughly 700 participants.
Barings last completed a $320 million renovation of JW Marriott Marco Island in 2018, which added an adults-only tower while updating the lobby and guest rooms.
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