DRIFTWOOD SECURES $60M REFINANCING: Miami-based Driftwood Capital has secured $60 million in refinancing through a national bank for the 295-room Hilton Cocoa Beach Oceanfront Hotel located in Florida’s Space Coast. Berkadia arranged a three-year, floating-rate loan with two extension options, full-term interest only payments and no required depository relationship.
SIX SENSES LAUNCHES SALE OF LOIRE VALLEY RESIDENCES: Six Senses and Les Bordes Estate have launched sales for Six Senses Residences Loire Valley in France. Located about 90 minutes south of France in the UNESCO World Heritage site of Loire Valley, the property comprises 52 branded residences. Spread across a 1,400-acre woodland estate, the homes consist of three- to seven-bedroom villas. Every villa has a pool with views of the surroundings along with a suite of services like concierge, private chefs, childcare, 24×7 security, housekeeping, landscaping and more. Home owners will also be able to join the Les Bordes Country Club and can apply for membership to the Les Bordes Golf Club. Owners can also enrol in a rental program managed by Six Senses. The sale marks the first phase of 12 homes and a major step in the completion of the Six Senses Loire Valley, which will include a 50-key luxury hotel located around the Château Bel-Air. The hotel will have three restaurants, two bars, a pool bar, an 18,000-foot spa, indoor and outdoor swimming pools, gym and a yoga studio.
HI EXPRESS & SUITES ALPHARETTA SELLS: Satori Collective, a real estate investment management company based in Atlanta, has completed the sale of the Holiday Inn Express & Suites Alpharetta-Windward Parkway to Bukhari Group Hospitality. Satori achieved 24% internal rate of return and a 2x equity multiple through the sale of the 124-suite hotel. Satori said it was pursuing “opportunistic and value-add acquisition” opportunities and has been reviewing its portfolio for opportunities to monetize assets for its investors. Satori acquired the hotel in 2013 and undertook a multi-million-dollar renovation to rebrand it to a Holiday Inn Express & Suites by IHG. The hotel includes an outdoor swimming pool, a business center, gym and meeting space for up to 40 persons.Â
LEMON TREE ADDS IN INDIA:Â New Delhi-based Lemon Tree Hotels has signed a new hotel in Mussoorie in the northern Indian state of Uttarakhand. Slated to open in FY25, the hotel will be franchised by Lemon Tree Hotels Ltd. The hotel will feature 60 rooms, a restaurant, meeting and events area, heated pool, spa, gym and a recreation room. Currently, Lemon Tree has eight hotels and seven upcoming properties across Uttarakhand.