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Partners Group And Trinity Investments Secure $210M Refinance For Ritz-Carlton Hotel In Irving

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FINANCED
$210,000,000

Texas

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Hotel
Financed 09/30/2024
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Property Image
FINANCED

Partners Group And Trinity Investments Secure $210M Refinance For Ritz-Carlton Hotel In Irving

4150 North Macarthur Boulevard

See Similar Deals
Hotel
Financed 09/30/2024
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Summary

TEXAS
Asset Type:Hotel
Transaction Type:Loan

The Ritz-Carlton hotel, located at 4150 North Macarthur Boulevard in Irving, Texas, features 427 keys and occupies 17 acres. This property recently underwent a $55 million renovation and rebranding from Four Seasons in January. The hotel boasts extensive amenities, including 80,000 square feet of meeting space and access to an 18-hole golf course.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $210,000,000
  • Lender: Marathon Asset Management
  • Landlord: David Layton - Partners Group
  • Landlord: Sean Hehir - Trinity Investments
  • Broker: Caleigh O’Connell - JLL
  • Broker: Kevin Davis - JLL
  • Broker: De’On Collins - JLL
  • Loan Type: Refinance

Partners Group and Trinity Investments secured the refinancing deal, which involved a significant loan amount facilitated by Marathon Asset Management. The transaction brought together notable individuals from the investing and brokerage sectors, highlighting the collaborative efforts in securing financing for this prestigious property.

Players

Kevin Davis
22 deals$3B volume
BROKER

De’On Collins
2 deals$210M volume
BROKER

Caleigh O'Connell
JLL
3 deals$1.2B volume
BROKER

Details

FINANCED
IMAGE: David Layton, Sean Hehir, Caleigh O’Connell, Kevin Davis & De’On Collins DATE: 09/30/2024 ADDRESS: 4150 North Macarthur Boulevard MARKET: Irving ASSET TYPE: Hotel ~ KEYS: 427 ~ ACRES: 17 LENDER: Marathon Asset Management LANDLORD: David Layton - Partners Group (@PartnersGroupGlobal); Sean Hehir - Trinity Investments BROKERS: Caleigh O’Connell, Kevin Davis & De’On Collins - JLL (@JLL) LOAN AMOUNT: $210,000,000 LOAN TYPE: Refinance NOTE: Partners Group secured a $210 million refinancing deal for the Ritz-Carlton hotel in Las Colinas, Texas, through a joint venture with Trinity Investments, with financing provided by Marathon Asset Management. The 427-key hotel, which underwent a $55 million renovation and rebranding from Four Seasons in January, features extensive amenities including 80,000 square feet of meeting space and access to an 18-hole golf course.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$210,000,000.00

Monthly NOI$1,400,000.00
Monthly Debt Service$1,327,342.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00