JLL secures $450 million refinancing for Hyatt Regency Waikiki Beach Resort & Spa

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LOS ANGELES, October 25, 2021 /PRNewswire/ — JLL’s Hotels & Hospitality Group has announced that it has hosted a $450 million refinancing of the Hyatt Regency Waikiki Beach Resort & Spa, a 1,230-key world-class resort along Kalakaua Ave., directly across from famed Waikiki Beach in Honolulu Hawaii.

JLL worked on behalf of the sponsor, Mirae Asset Global Investments Co., Ltd. to secure the interest-only five-year variable rate loan which was issued by Deutsche Bank AG, New York Goldman Sachs branch and bank United States.

The Hyatt Regency Waikiki Beach Resort & Spa has two 40-story twin towers that contain the majority of its 1,230 rooms and offer panoramic views of Waikiki Beach, diamond head and Downtown Honolulu. Resort features three restaurants, outdoor pool, 24-hour fitness center, 20,510 square feet of meeting space, Na Ho’ola Spa, and parking at 11 levels. The towers stand atop a three-story podium, which houses the Pualeilani Atrium shops. The hotel offers weekly cultural classes, including lei-making, ukulele, and hula lessons, as well as Camp Hyatt for kids.

Located on a 2.97-acre site at 2424 Kalakaua Ave., the Hyatt Regency Waikiki Beach Resort & Spa is just steps from famous Waikiki Beach. The hotel is surrounded by a variety of upscale restaurants, luxury department stores and upscale boutiques located on “Luxury Row” and is within walking distance of other accommodation demand drivers including Kapiolani Park, the Royal Hawaiian Center, the Waikiki Beach Walk Entertainment Center and the Ala Moana Center. Additionally, the Hyatt Regency offers convenient access to Daniel K. Inouye International Airport and the Port of Honolulu Cruise Terminal.

The JLL Hotels & Hospitality team representing the borrower was led by the Senior Managing Director Kevin Davis and Executive Vice President Mike Huth.

“Historically, Oahu has been one of the highest RevPAR markets in the country,” Huth said. “It was amazing to see the rapid return of demand from domestic markets over the summer in response to the availability of vaccines and the easing of travel restrictions.

“The hotel’s track record of consistent performance before the pandemic, combined with the robust recovery that began earlier this year, has generated strong interest among lenders,” Davis added. “This transaction is one of several recent SASB securitizations that illustrate a strong appetite for hospitality among bond buyers.”

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotel and hospitality real estate advisor in the past five years, totaling $83 billion worldwide. The group’s global team, 350 strong in more than 20 countries, has also carried out more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and advisory services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world .

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About Mirae Asset Global
Founded in 1997, Mirae Asset Global Investments is the asset management arm of Mirae Asset Financial Group, one of from Asia leading independent financial services companies. Mirae Asset Global Investments was founded in Asia and now operates globally in 12 markets, where it takes a collaborative approach in managing a fully diversified investment platform. With a unique perspective and the expertise of more than 195 global investment professionals, Mirae Asset Global Investments adapts to the changing needs of its clients, providing them with innovative investment solutions and smart ways to achieve their investment goals.

About JLL
JLL (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. JLL is shaping the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, incredible spaces, and sustainable real estate solutions for our clients, associates, and communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in more than 80 countries and a global workforce of more than 92,000 people June 30, 2021. JLL is the brand name and a registered trademark of Jones Lang LaSalle Incorporated. For more information, visit jll.com.

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Contact: Kristen Murphy, JLL Senior Manager, Public Relations
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SOURCEJLL

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