Berkadia’s Hotels & Hospitality said in an Oct. 23 news release it arranged the refinancing of the leasehold interest in the Hilton Garden Inn-Homewood Suites Jacksonville Downtown Southbank.
Managing Director Michael Weinberg, Associate Director Alec Fox and Senior Director Lindsey deButts of Berkadia Hotels & Hospitality secured the financing on behalf of Excel Group, a hotel private equity firm that acquires and develops premium-branded limited-service hotels, according to the release.
Berkadia declined to identify the lender for the $25,650,000 five-year loan.
“Excel has significantly improved the property’s performance through operational efficiencies since acquisition in 2021. This new bank loan will allow them to invest additional capital into the property which will drive property performance even further,” Weinberg said in the release.
Built in 2009, The Hilton Garden Inn-Homewood Suites Jacksonville Downtown Southbank at 1201 Kings Ave. has 221 rooms, an outdoor pool, fitness center, an on-site restaurant, room service, meeting rooms, free Wi-Fi and digital keys.
The hotel is surrounded by 20.8 million square feet of office space, close to the Downtown sports and entertainment district and adjacent to Baptist Medical Center, Wolfson Children’s Hospital, the MD Anderson Cancer Center and Nemours Specialty Care.
Berkadia is a joint venture of Berkshire Hathaway and Jefferies Financial Group that services multifamily and commercial property clients.