LOS ANGELES, 25 October 2021 / PRNewswire / – JLL’s Hotels & Hospitality Group announced it has organized a $ 450 million refinancing for the Hyatt Regency Waikiki Beach Resort & Spa, a world-class 1,230-key resort located along Kalakaua Avenue, directly across from famous Waikiki Beach in Honolulu Hawaii.
JLL worked on behalf of the sponsor, Mirae Asset Global Investments Co., Ltd. new York Goldman Sachs branch and bank United States.
The Hyatt Regency Waikiki Beach Resort & Spa has two 40-story twin towers that contain the majority of its 1,230 rooms and offer panoramic views of Waikiki Beach, Diamond head and Downtown Honolulu. The resort has three restaurants, an outdoor pool, 24-hour fitness center, 20,510 square feet of meeting space, Na Ho’ola Spa, and 11-hour parking. floors. The towers sit atop a three-story podium, which houses the shops of the Pualeilani Atrium. The hotel offers weekly cultural classes, including lei, ukulele, and hula-making classes, as well as Camp Hyatt for kids.
Located on a 2.97 acre site at 2424 Kalakaua Ave., the Hyatt Regency Waikiki Beach Resort & Spa is just steps from famous Waikiki Beach. The hotel is surrounded by a variety of upscale restaurants, luxury department stores and upscale boutiques located on “Luxury Row” and is within walking distance of additional accommodation demand generators including Kapiolani Park, the Royal Hawaiian Center, the Waikiki Beach Walk Entertainment Center, and the Ala Moana Center. Plus, the Hyatt Regency offers convenient access to Daniel K. Inouye International Airport and Honolulu Harbor Cruise Terminal.
The JLL Hotels & Hospitality team representing the borrower was led by the Senior Managing Director Kevin davis and executive vice-president Mike Huth.
âHistorically, Oahu has been one of the highest RevPAR markets in the country, “Huth said.” It was amazing to witness the rapid return of demand from domestic markets over the summer in response to vaccine availability and relaxation of travel restrictions. ”
âThe hotel’s track record of consistent pre-pandemic performance, combined with the robust recovery that began earlier this year, has generated significant interest among lenders,â added Davis. “This transaction is one of many recent SASB securitizations that illustrate a strong appetite for hospitality among bond buyers.”
The JLL Hotels & Hospitality group has completed more transactions than any other hotel and hotel real estate advisor over the past five years, totaling 83 billion dollars worldwide. The group’s global team of 350 people in more than 20 countries also completed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and advisory services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world. .
For more information, videos and research resources on JLL, please visit our newsroom.
About Mirae Asset Global
Founded in 1997, Mirae Asset Global Investments is the asset management arm of Mirae Asset Financial Group, one of the asia leading independent financial services companies. Mirae Asset Global Investments was founded in Asia and now operates worldwide in 12 markets, where it takes a collaborative approach in managing a fully diversified investment platform. With a unique perspective and the expertise of more than 195 investment professionals globally, Mirae Asset Global Investments adapts to the changing needs of its clients, providing them with innovative investment solutions and smart ways to achieve their investment goals.
JLL (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. JLL is shaping the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, incredible spaces and sustainable real estate solutions for our clients, employees and communities. JLL is a Fortune 500 company with annual sales of $ 16.6 billion, operations in over 80 countries and a global workforce of over 92,000 in June 30, 2021. JLL is the brand name and registered trademark of Jones Lang LaSalle Incorporated. For more information, visit jll.com.
Connect with us:
Contact: Kristen Murphy, JLL Senior Director, Public Relations
Telephone: +1 617 848 1572
E-mail: [emailÂ protected]