Michael Dell Of BDT & MSD Partners Secures $1.15 Billion Loan For Boca Raton Resort & Club

The Boca Raton Resort & Club, located at 501 East Camino Real, is a hotel asset comprising 1,047 keys and sits on 165 acres. The property recently received a refinancing loan amounting to $1.15 billion with terms set for two years and at a floating rate.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $1,150,000,000
• Market: Boca Raton
• Loan Lender: Goldman Sachs & Citigroup
• Landlord: Michael Dell - BDT & MSD Partners
• Loan Terms: two-year, floating-rate with three one-year extension options
• Previous Loan Amount: $1,000,000,000
• Equity Returned: ~$137,000,000
• Acreage: 165

The refinancing effort was spearheaded by Michael Dell’s BDT & MSD Partners, which engaged Citigroup for $862.5 million of the loan while Goldman Sachs contributed the remaining balance. This transaction aims to refinance the existing loan and return capital to equity holders.