Assignment Overview
RobertDouglas advised Braemar Hotels & Resorts Inc. (NYSE: BHR) in successfully refinancing its existing CMBS loan for the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, CO with a best-in-class bank lender. The new, non-recourse loan totals $70.5 million and has a two-year initial term with three, one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR + 2.86%. This financing process drew strong interest from many lenders based on the in-place hotel cash flow and drive-to leisure market orientation.
Property Background
Situated at the base of Beaver Creek Mountain, Park Hyatt Beaver Creek Resort & Spa offers unbeatable ski-in/ski-out convenience, health and fitness amenities, a full-service spa, and upscale dining experiences. Just a two-hour drive away from Denver, Beaver Creek is positioned as a premier family-oriented ski destination.
Deal Highlights
Client: |
| Braemar Hotels & Resorts |
