Assignment Overview
RobertDouglas advised Clarion Partners on the refinancing of the 65-property CBM Two Hotels LP Portfolio. Bolstered by robust in-place cash flows, strong geographic diversification, and institutional Sponsorship, the Portfolio attracted strong interest from a wide array of lenders. The $670 million five year, fixed-rate mortgage financing was provided by Deutsche Bank.
Project Overview
The Portfolio is comprised of 65 Courtyard by Marriott hotels totaling 9,590 keys and located in 29 states and 46 metropolitan areas. Notable geographic representation includes the New York, San Francisco, Miami, Los Angeles, Dallas, Chicago, Boston, and Atlanta metropolitan statistical areas. The Sponsorship’s continuous capital contributions over the past decade have allowed the Portfolio to consistently outperform its competitive set and achieve above-average guest satisfaction scores.
Deal Highlights
| Client (Borrower): Lender: Financing Proceeds: Key Count: | Clarion Partners Deutsche Bank $670 million 9,590 |
