A joint venture led by Trinity Investments has arranged a $750-million refinancing of the existing $650-million loan for the Grande Lakes Orlando Resort. The refinancing follows the completion of Trinity’s $118 million renovation and repositioning plan for the resort. The property was refinanced with a floating rate CMBS loan.
The 409-acre, 1,592-key resort, anchored by The Ritz-Carlton and JW Marriott, is among the top resort and conference destinations in the Marriott system, according to the company. Grande Lakes features an array of amenities, including spa treatments, championship golf, gourmet farm-to-table dining and pools with new deluxe cabanas.
The Trinity-led joint venture acquired the resort in 2018, and since acquisition, the property has undergone an extensive renovation to the rooms and public areas, adding 12 guestrooms, elevated food and beverage experiences, and a transformative pool renovation which includes a new waterpark.
“Since acquiring Grande Lakes, we’ve completed a transformation of the resort, making it a go-to destination for both individuals and group travel in Orlando, and Florida more broadly,” said Sean Hehir, managing partner/president/CEO, Trinity. “Our ability to refinance the asset at attractive terms in today’s market is a testament to our ability to revitalize the resort for a new generation of travelers and position the asset for continued operational outperformance. We are grateful to our financial partners for their continued support of the business.”
