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PONTE VEDRA, FL-Ireland-based joint venture company RQB hassecured $193 million in financing for the acquisition anddevelopment of the 508-key Marriott Sawgrass Resort and Spa.

The interest-only, floating-rate loan was provided by GoldmanSachs Commercial Mortgage LP under its transitional loan program.The term of the loan is five years, including a four-year term witha one-year extension option. The loan includes an initial fundingof $154.2 million for acquisition and closing costs, and $38.8million to be funded over the first three years of the loan to payfor hotel renovations and working capital. RQB is a joint venturedevelopment company established in 2004 between Niall McFadden'sBoundary Capital Ltd. and Paddy Kelly's Redquartz Ltd. Renovationsto the hotel will begin immediately and will be completed by theend of the year.