JLL Secures $735M Refinance Loan For Walt Disney World Resort In Orlando
1200 Epcot Resorts Boulevard, 1255 Epcot Resorts Boulevard & 1500 Epcot Resorts Boulevard
$735,000,000
Building Size
—
Asset Type
Hotel
Closing
May 10, 2024
AI
The Walt Disney World Swan and Dolphin Resort is a sprawling hotel complex located at 1200, 1255, and 1500 Epcot Resorts Boulevard in Orlando, Florida. The property consists of two hotels with a total of 2,619 rooms. The recently closed loan transaction involves a refinancing deal amounting to $735,000,000 with a five-year floating-rate term. Wells Fargo, Bank of America, and Goldman Sachs are the lenders involved in the transaction. The landlords of the property are John Vickers from Tishman Hotel & Realty and John D. McCallion from MetLife Investment Management.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $735,000,000
- Market: Orlando
- Loan Type: Refinance
- Keys: 2,619
JLL's Hotels & Hospitality group, represented by Caleigh O'Connell, Kevin Davis, and Mark Fisher from JLL, facilitated the $735 million CMBS term loan for the Swan & Dolphin Resort. This financing was secured on behalf of a joint venture between Tishman Hotel & Realty and MetLife Investment Management. The successful stewardship of Tishman and MIM in Orlando's hospitality market, along with the resort's strong cash flows and unique competitive position, contributed to the confidence shown by the lenders. JLL's Hotels & Hospitality Group is renowned for its global reach and expertise in hotel real estate transactions and advisory services worldwide.
Players
Orlando Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93