In Brief: JLL has arranged a $600 million refinancing package for The Diplomat Beach Resort in Hollywood, Florida, following an $80 million renovation and rebranding of the property.
-
Diplomat Beach Resort in Hollywood, Florida – Image Credit Hilton
JLL’s Hotels & Hospitality Group arranged a $600 million floating-rate, interest-only loan for The Diplomat Beach Resort, a 1,000-room beachfront property in Hollywood, Florida. The refinancing was secured on behalf of a joint venture between real estate funds managed by Trinity Investments and funds managed by UBS Asset Management’s Global Real Assets business. The loan was provided by JP Morgan Chase & Co. and Citi and structured as a single-asset, single-borrower commercial mortgage-backed securities (CMBS) transaction.
JLL was previously involved in the 2023 sale of the resort to Trinity Investments and funds advised by Credit Suisse Asset Management, which were later acquired by UBS. The 2023 transaction represented the third largest single-asset hotel sale in the United States at that time. JLL also led the previous financing for the property in 2024.
The refinancing follows an $80 million renovation program completed by the ownership group and Hilton. The renovation included upgrades to guest rooms, meeting spaces, and amenities, and converted the property to the Signia by Hilton brand.
The Diplomat Beach Resort features a 36-story tower with 1,000 guest rooms and suites, more than 200,000 square feet of meeting and event space, a 15,000-square-foot spa, six restaurants and bars, multiple pools, and cascading waterfalls. The resort is located on 10 acres of Atlantic Ocean beachfront and offers recreational activities such as kayaking, paddleboarding, and jet ski rentals.
The property is situated between Fort Lauderdale/Hollywood International Airport, approximately 10 minutes away, and Miami International Airport, about 30 minutes away, providing access for guests from major markets in the United States, Latin America, and Europe.
The JLL Hotels & Hospitality team representing the borrower included Americas CEO Kevin Davis, Managing Director Mike Huth, Vice President Wyatt Krapf, and Analysts Jade Lewin and Malia Buljat.
