LOS ANGELES, Oct. 25, 2021 - JLL's Hotels & Hospitality Group announced that it has arranged a $450 million refinancing for the Hyatt Regency Waikiki Beach Resort & Spa, a 1,230-key, world-class resort along Kalakaua Ave., directly across from the world-famous Waikiki Beach in Honolulu, Hawaii.

JLL worked on behalf of the sponsor, Mirae Asset Global Investments Co., Ltd. to secure the five-year, floating-rate, interest-only loan, which was originated by Deutsche Bank AG, New York Branch and Goldman Sachs Bank USA.

Located on a 2.97-acre site at 2424 Kalakaua Ave., the Hyatt Regency Waikiki Beach Resort & Spa is steps away from the famed Waikiki Beach. The hotel is surrounded by a variety of upscale dining, luxury department stores and upscale boutiques situated on "Luxury Row" and is within walking distance of additional lodging demand generators, including Kapiolani Park, the Royal Hawaiian Center, Waikiki Beach Walk Entertainment Center and the Ala Moana Center. In addition, The Hyatt Regency has convenient access to the Daniel K. Inouye International Airport and Honolulu Harbor cruise terminal.

The JLL Hotels & Hospitality team representing the borrower was led by Senior Managing Director Kevin Davis and Executive Vice President Mike Huth.

"Historically, Oahu has been one of the highest RevPAR markets in the country," Huth said. "It was incredible to witness the rapid return of demand from domestic markets over the summer in response to vaccine availability and relaxed travel restrictions."

"The hotel's track record of consistent pre-pandemic performance, combined with the robust recovery that commenced earlier this year generated strong interest among lenders," Davis added. "This transaction is one of several recent SASB securitizations that illustrates a strong appetite for hospitality among bond buyers."

JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group's 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

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Jones Lang LaSalle Inc. published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 13:43:05 UTC.