DALLAS — Affiliates of The Blackstone Group LP (NYSE: BX) have borrowed $581 million to refinance a 16-property, 4,798-room hotel portfolio and a golf course/tennis club. The properties are located across the U.S.
The portfolio is composed of 12 full-service hotels, which include:
- Sheraton San Francisco Fisherman’s Wharf in San Francisco
- Hilton Irvine-Orange County Airport in Irvine, Calif.
- Marriott Irvine in Irvine, Calif.
- DoubleTree Austin in Austin, Texas
- DoubleTree Suites Indianapolis-Carmel in Carmel, Ind.
- Hilton Clearwater Beach Resort in Clearwater, Fla.
- South Seas Island Resort in Captiva Island, Fla.
- DoubleTree Orlando-Universal in Orlando, Fla.
- Hilton Cocoa Beach Oceanfront in Cocoa Beach, Fla.
- Hilton Key Largo Beach Resort in Key Largo, Fla.
- The Ritz-Carlton Pentagon City in Arlington, Va.
- Marriott Princeton-Forrestal in Princeton, N.J.
The portfolio also includes four boutique hotels, known collectively as The Inns of Sanibel, and one golf course/tennis club called The Dunes Golf and Tennis Club in Sanibel Island, Fla.
The HFF team representing the borrower was led by senior managing directors Trey Morsbach and Dan Peek and managing director John Bourret.
The Blackstone Group’s stock price closed Tuesday at $21.05 per share, which is up from closing at $12.08 per share this time last year.
— John Nelson