JLL’s Hotels & Hospitality group arranged $600 million in financing for The Diplomat Beach Resort, a beachfront resort with 1,000 guest rooms in Hollywood, Florida.
JLL worked on behalf of the borrower, a joint venture between real estate funds managed by Trinity Investments and funds managed by UBS Asset Management’s Global Real Assets business, to secure the floating-rate loan through JP Morgan Chase & Co. and Citi. The interest-only loan was structured as a single-asset, single-borrower CMBS transaction.
The refinancing follows an $80 million renovation program completed jointly by the ownership group and Hilton to convert the property to the Signia by Hilton brand and elevate the guest experience.
The Diplomat Beach Resort features 1,000 guest rooms and suites and more than 200,000 square feet of meeting and events space.
The JLL Hotels & Hospitality team representing the borrower was led by Kevin Davis, Mike Huth, Wyatt Krapf and Analysts Jade Lewin and Malia Buljat.
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