HFF arranges refinancing for waterfront hotel in downtown Charleston
ORLANDO, FL – August 25, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a refinancing for the Courtyard Charleston Waterfront, a 179-room, Marriott Courtyard-branded hotel located near the historic district in downtown Charleston, South Carolina.
Working on behalf of the borrower, JMH Hotels, HFF placed the seven-year, fixed-rate loan with Prudential Mortgage Capital Company. Loan proceeds will be used to pay off an existing loan.
Overlooking the Ashley River, the Courtyard Charleston Waterfront features a terrace with water and marina views, outdoor waterfront pool, fire pit, whirlpool, state-of-the-art fitness center, 1,428 square feet of meeting and event space, four wet boat slips and The Ashley River Café, a breakfast restaurant serving American cuisine. The five-story hotel’s planned renovations will, among other improvements, convert the existing restaurant to The Bistro, a full-service restaurant with a bar. Situated on 3.8 acres at 35 Lockwood Drive, the hotel is adjacent to the medical campuses of the Medical University of South Carolina, Roper St. Francis Hospital and the VA Hospital. The property is also located proximate to the Charleston Historic District and is two blocks from both U.S. Highway 17 and the terminus of Interstate 26.
The HFF debt placement team representing the borrower was led by managing director Michael Weinberg.
About JMH Hotels
JHM Hotels, a premier lodging company, based in Greenville, South Carolina, has developed, acquired, owned and operated hotels throughout the United States for over 42 years. The company currently owns and operates 40 hotels with over 7000 guestrooms, located in the United States and India, operating under such well-known brands as Hyatt, Marriott, Hilton and Starwood. For more information, visit JHM Hotels’ website at www.jhmhotels.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.