Hyatt Regency Waikiki Beach Finds $450M in Refinancing
A whopping $450 million in refinancing was recently arranged for the Hyatt Regency Waikiki Beach Resort & Spa, a 1,230-key resort along Kalakaua Avenue directly across from Waikiki Beach in Honolulu. JLL worked on behalf of the sponsor, Mirae Asset Global Investments Co. Ltd. to secure the five-year floating-rate interest-only loan, which was originated by Deutsche Bank AG, New York Branch and Goldman Sachs Bank USA.
The Hyatt Regency features two 40-story twin towers that contain the majority of its 1,230 guestrooms with views of Waikiki Beach, Diamond Head and downtown Honolulu. The resort features three dining venues, an outdoor pool, 24-hour fitness center, 20,510 square feet of meeting space, a spa and an 11-level parking garage. The towers sit atop a three-story podium, which is home to the Pualeilani Atrium Shops.
Located on a 2.97-acre site at 2424 Kalakaua Ave., the hotel is near Luxury Row and within walking distance of additional lodging demand generators including Kapiolani Park, the Royal Hawaiian Center, Waikiki Beach Walk Entertainment Center and the Ala Moana Center. In addition, the Hyatt has access to the Daniel K. Inouye International Airport and Honolulu Harbor cruise terminal.
The JLL hotels and hospitality team representing the borrower was led by Kevin Davis of the New York City office and Mike Huth of the Los Angeles office.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.