JLL Capital Markets arranged a $38.6 million refinancing for S3 Hotel Group's dual-branded, 208-key Homewood Suites by Hilton and Hampton Inn Irvine Spectrum Lake Forest, Calif.
JLL worked on behalf of the borrower, S3 Hotel Group, to secure a five-year, fixed-rate loan through a private wealth-management division of a global financial-services firm.
The hotel includes 116 Homewood Suites rooms and 92 Hampton Inn rooms. The Homewood Suites has extended-stay accommodations with full kitchens, dishwashers and cooking utensils while Hampton Inn rooms provide traditional hotel amenities.
Property amenities include 2,000 square feet of meeting space, a 24-hour fitness center, outdoor pool with barbecue facilities, guest laundry, evening bar service and a 24-hour convenience shop. The Homewood Suites section has additional amenities including complimentary evening social events Monday through Thursday.
The hotel provides access to major demand generators throughout Southern California. The property is within driving distance of Disneyland, Angel Stadium, the Honda Center and Knott's Berry Farm. Additionally, the surrounding area encompasses more than 47 million square feet of office space in Lake Forest, Irvine Spectrum, Irvine, Aliso Viejo, Mission Viejo and Laguna Niguel.
The JLL Capital Markets Debt Advisory team was led by Director Olga Walsh.
“This dual-branded hotel embodies the kind of top-tier, newly delivered product that’s drawing lender attention in today’s market,” said Walsh. “By pairing the asset’s standout fundamentals with the opportunity for a broader sponsor relationship, JLL drove competitive engagement from private wealth lenders, ultimately achieving pricing 125 – 150 basis points inside what’s typically available through standard non-recourse channels.”