Wells Fargo, Bank of America
and Goldman Sachs provided financing for the 2,619-key resort in
Lake Buena Vista
NEW
YORK, May 10, 2024 /PRNewswire/ -- JLL's
Hotels & Hospitality group announced today that it arranged a
new $735 million, five-year,
floating-rate SASB CMBS term loan to refinance The Walt Disney
World Swan, Walt Disney World
Dolphin and Walt Disney World Swan Reserve (collectively,
"Swan & Dolphin Resort"), a 2,619-key resort situated directly
adjacent to the theme parks within Walt
Disney World in Lake Buena Vista,
Florida.
JLL represented a joint venture between Tishman Hotel &
Realty and MetLife Investment Management (MIM). Wells Fargo, Bank of America and Goldman Sachs were
the lenders.
Located adjacent to Walt Disney
World's Epcot and Hollywood Studios theme parks, the Swan
& Dolphin Resort is the only non-Disney owned hotel located on
the grounds of Walt Disney World.
Built by Tishman and MIM and opened in 1989 / 1990 and 2021,
the iconic Michael Graves-designed
Swan & Dolphin Resort consists of three Marriott branded hotels
– the 756-key Swan (Sheraton), the 1,514-key Dolphin (Westin) and
the 349-key Swan Reserve (Autograph Collection). The Swan &
Dolphin Resort hotel offers over 452,000 square feet of meeting and
event space (including eight ballrooms, 99 meeting rooms) and
100,000 square feet of outdoor space.
The Swan & Dolphin Resort's amenities include 16 restaurants
and seven bars, three fitness centers, six outdoor pools and a
12,000-square-foot spa.
The JLL team was led by Hotels & Hospitality Group Americas
CEO Kevin Davis, Managing Director
Mark Fisher and Analyst Caleigh O'Connell.
The financing represents an endorsement of the Swan &
Dolphin Resort and the Tishman / MIM stewardship of the asset.
According to Davis, "The Swan & Dolphin Resort SASB CMBS
loan priced at the tightest pricing levels seen for hotels since
2021. The market pricing was an affirmation of the strong in-place
cash flows, the unique competitive position for the Resort and the
incredible 35-year track record that Tishman and MIM have created
in Orlando."
JLL's Hotels & Hospitality Group has completed more
transactions than any other hotels and hospitality real estate
advisor over the last five years, totalling $83 billion worldwide. The group's 370-strong
global team in over 20 countries also closed more than 7,350
advisory, valuation and asset management assignments. Our hotel
valuation, brokerage, asset management and consultancy services
have helped more hotel investors, owners and operators achieve high
returns on their assets than any other real estate advisor in the
world.
For more news, videos and research resources, please visit
JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial
real estate and investment management company, has helped clients
buy, build, occupy, manage and invest in a variety of commercial,
industrial, hotel, residential and retail properties. A Fortune 500
company with annual revenue of $20.8
billion and operations in over 80 countries around the
world, our more than 108,000 employees bring the power of a global
platform combined with local expertise. Driven by our purpose to
shape the future of real estate for a better world, we help our
clients, people and communities SEE A BRIGHTER WAYSM.
JLL is the brand name, and a registered trademark, of Jones Lang
LaSalle Incorporated. For further information, visit jll.com.
Contact: Alli Stent, Public Relations, Associate
Phone: +1 330 329 6750
Email: Alli.Stent@jll.com
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SOURCE JLL