Jones Lang LaSalle has secured $28 million in senior debt financing from MetLife for the refinancing of the Hilton Charlotte University Place, a 393-room, full-service hotel located in Charlotte, North Carolina. The fixed rate loan was closed in accordance with a tight time frame, and provides owners UPH Lakeside LP with attractive pricing over a five-year term.
Leading the Jones Lang LaSalle team on this transaction was Real Estate Investment Banking Senior Vice President Mathew Comfort and Vice President Brett Rosenberg working in conjunction with Jones Lang LaSalle Hotels Executive Vice President Jeffrey Davis, Managing Director Mark Fair and Senior Vice President Ros Mallory.
“This is a great example of the debt markets competing to originate low leverage, fixed rate debt on high quality hotel assets,” said Comfort.
The Hilton Charlotte University Place is a Class A hotel located at 8629 J M Keynes Dr. in Charlotte. The newly renovated Hotel features 20,500 square feet of flexible meeting space, including the 6,000 square foot University Ballroom, an award winning three-meal, full-service restaurant and a unique lakefront location that is especially popular for weddings and social events.