$25.4M in Financing Secured for the Courtyard by Marriott in Cotton Heights, Utah

JLL Capital Market represented an affiliate of Huntington Resort Group within the refinancing of the 149-key Utah lodge

JLL Capital Markets introduced at this time that it organized $25.4 million in financing for 149-key Courtyard by Marriott in Cotton Heights, Utah.

JLL labored on behalf of the borrower, an affiliate of Huntington Resort Group, and secured a floating-rate, interest-only mortgage from NYL Traders with time period of as much as 4 years inclusive of extension choice. Mortgage proceeds had been utilized to repay present financial institution mortgage along with offering substantial cash-out, which was used in the direction of partnership buyout.

The lodge is positioned at 7341 Canyon Centre Pkwy., simply 20 minutes from Downtown Salt Lake Metropolis. Its handy location on the base of the Wasatch Mountains presents unparalleled connectivity to the world’s excessive focus of company and leisure demand mills, together with world-class ski resorts.

Courtyard Salt Lake Metropolis Cottonwood options premium facilities together with a state-of-the-art health middle, out of doors heated pool with spa, assembly and occasion area, onsite eating, rooftop terrace and enterprise middle. The property opened its doorways in 2021 and rapidly ramped up regardless of the challenges the hospitality business confronted through the Covid-19 pandemic.  

The JLL Capital Markets Debt Advisory workforce was led by Senior Managing Director Tim Wright, Director Olga Walsh and Analyst Jack Wooden.