Manchester Financial Group secures 5Y, I/O fixed-rate SASB CMBS loan for $430M to refinance the luxury 1,048-room hotel, Fairmont Austin

7/10/2024

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PR Newswire

• Subcategory: Capital Markets: Debt, Hospitality: Hotel

• Tag: Closing | JV-Partnership | Strategy

• Additional Filters-Subcategory: Capital Markets: Debt-CMBS, Capital Markets: Debt-Refinance

JLL's Capital Markets group announced today that it arranged a $430 million refinancing for Fairmont Austin, a 37-story luxury hotel in downtown Austin. JLL Capital Markets represented Manchester Financial Group in securing the five-year, interest only fixed-rate SASB CMBS loan, with Goldman Sachs acting as a lead manager and sole bookrunner. The all-mortgage financing package was used to replace a $300MM senior loan and $125MM of mezzanine debt.