$60 million refinancing arranged by HFF for Grand Bohemian Hotel Orlando
ORLANDO, FL – March 14, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $60 million refinancing for Grand Bohemian Hotel Orlando, a 247-room, full-service, award-winning, luxury hotel in the heart of downtown Orlando, Florida.
HFF worked on behalf of the borrower, Xenia Hotels & Resorts, Inc., to place the 10-year, fixed-rate loan with MetLife. Loan proceeds will be used to refinance an existing loan
Grand Bohemian Hotel Orlando is an AAA Four Diamond award-winning hotel most recently named the 2015 No. 6 Best Orlando Hotel by U.S. News & World Report. The hotel, which is part of Marriott’s Autograph Collection, 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 – The Boheme Restaurant, Bösendorfer Lounge and Starbucks® Café. Completed in 2001, the hotel is located at 325 South Orange Avenue in downtown Orlando 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 proximate to 10 million square feet of office space and, with a Walk Score ranking of 91, it is surrounded by restaurants, nightlife, parks, shopping and entertainment venues, including the Amway Center, home to the Orlando Magic NBA team.
The HFF debt placement team representing the borrower was led by director Michael Weinberg.
“We are bullish on downtown Orlando and its future growth potential,” Weinberg said. “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.”
About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests primarily in premium full service, lifestyle and urban upscale hotels, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States. The company owns 50 hotels, including 48 wholly owned hotels, comprising 12,548 rooms across 21 states and the District of Columbia. Xenia’s hotels are primarily operated by industry leaders such as Marriott®, Hilton®, Kimpton®, Hyatt®, Starwood®, Aston®, Fairmont® and Loews® as well as leading independent management companies including Sage Hospitality, The Kessler Collection, Urgo Hotels & Resorts, Davidson Hotels & Resorts and Concord Hospitality. For more information on Xenia’s business, refer to the company website atwww.xeniareit.com.
About About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visitwww.metlife.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.