Walton Street Refinances Four Seasons Hotel
- Aug 22, 2008
Walton Street Capital L.L.C. has refinanced its Four Seasons Resort Scottsdale, in the Phoenix metro area, for $75 million. The funding was provided by HSBC and secured by Jones Lang LaSalle’s capital markets group.“The initial two-year, floating-rate loan includes attractive multi-year extension provisions providing Walton Street Capital the flexibility it needs to recapitalize the resort,” according to a statement from JLL. Jones Lang LaSalle Hotels assisted with the transaction. An ultra-luxury destination resort, The Four Seasons Resort Scottsdale at Troon North (pictured) features 210 guestrooms and suites, 36,000 square feet of meeting space, a spa, extensive recreational facilities, and fine-dining restaurants. A $17 million renovation last year encompassed updates of casitas and suites, a remodeled lobby, and the addition of a restaurant and bar. The resort’s partnership with Troon North Golf Club, home of championship courses The Pinnacle and The Monument, earned the resort a place among the top 10 U.S. golf resorts for 2007 by Travel & Leisure Golf magazine. Last year, JLL’s Capital Markets Group handled $82 billion in transaction volume, and Jones Lang LaSalle Hotels provided advice on more than 250 hotel transactions in more than 80 cities globally, representing a total value of nearly $14 billion.