$165m Marriot deal.
Jones Lang LaSalle arranged the $165 million refinancing of the
575-room JW Marriott Starr Pass Resort & Spa in Tucson, Ariz., on
behalf of Starr Pass Resort Developments LLC.
The hotel is located just outside of downtown Tucson and includes a
27-hole championship golf club and 20,000 s/f full-service spa.
Construction of the hotel was completed in January of 2005.
Matt Comfort and Ben Singer of Jones Lang LaSalle's Real
Estate Investment Banking (REIB) group, conducted a comprehensive
marketing process that generated strong bids.
The transaction was awarded to a Wall Street lender on the basis of
its highly competitive spread and ability to address the key objectives
of the borrower, including a flexible structure that allowed the
borrower to best execute its business plan.
COPYRIGHT 2006 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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