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Atlanta & Southeast  + Southeast  + Hospitality  | 

CBRE Arranges $200M Recap for Aruba Marriott Resort, Stellaris Casino

CBRE Hotels arranged the $195-million mortgage for the recapitalization of the Aruba Marriott Resort and Stellaris Casino in Palm Beach.  The recapitalization facilitated the buy-out of some of the partners, and consisted of a $195 million, fixed rate, interest-only loan facility provided by Cantor Commercial Real Estate (CCRE) and an undisclosed preferred equity investment.

Located on the white sands of Palm Beach, Aruba’s most desirable lodging destination, the 414-key resort was a highly sought-after property.

CBRE Hotels’ Mark Owens and team, in concert with the firm’s Caribbean lodging experts, Christian Charre and Paul Weimer, effectuated the transaction.

Owens says, “The institutional sponsorship paired with an aggressive on-the-ground asset management team, an incredible physical product, strong and consistent cash flow, and Marriott’s global platform generated a surprising amount of liquidity for such a large Caribbean transaction.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing