Berkadia’s Hotels & Hospitality team has arranged a nearly $26-million loan for the refinancing of the leasehold interest in the Hilton Garden Inn-Homewood Suites Jacksonville Downtown Southbank, a 221-key, dual-brand hotel located in Jacksonville, FL.
Managing Director Michael Weinberg, Associate Director Alec Fox and Senior Director Lindsey deButts of the Berkadia team secured the financing on behalf of Excel Group, a multi-disciplined hotel private equity firm focused on acquiring and developing premium-branded, limited-service hotels.
A regional bank provided the five-year loan.
“Excel has significantly improved the property’s performance through operational efficiencies since acquisition in 2021,” said Weinberg. “This new bank loan will allow them to invest additional capital into the property which will drive property performance even further.”
Built in 2009, The Hilton Garden Inn-Homewood Suites Jacksonville Downtown Southbank is an eight-story hotel that features an outdoor pool, fitness center, an on-site restaurant, room service, meeting rooms, free WiFi and digital keys.
Located within the Southbank submarket along the St. Johns River, the hotel is surrounded by 20.8 million sq. ft. of office space within a three-mile radius and is close to Downtown Jacksonville’s Sports & Entertainment district and adjacent to a medical cluster that hosts Baptist Medical Center, Wolfson Children’s Hospital and the MD Anderson Cancer Center and Nemours Specialty Care.
