$24,700,000 Mezzanine Loan Purchase
Ramsfield and CarVal purchased a $24,700,000 mezzanine loan on the Hyatt Regency Jacksonville Riverfront in Jacksonville, Florida. The property is in the heart of Downtown Jacksonville on the north bank of the St. Johns River, surrounded by several corporate and tourism demand generators.
Given the strong deal fundamentals and Ramsfield’s experience in similar markets, Ramsfield was able to quickly underwrite the opportunity and close on the loan purchase in only two weeks.
The Hyatt Regency Jacksonville, a 951-key full-service hotel built in 2001 with approximately 116,000 SF of meeting space, is Jacksonville’s leading hotel and foremost group and meeting venue. The hotel is ideally located only blocks away from EverBank Field (home to the NFL’s Jacksonville Jaguars) and Jacksonville Landing, as well as a variety of other corporate and tourist demand generators. The property has a rooftop heated pool and hot tub, state-of-the-art fitness center, a FedEx office business center, and a six-story parking garage. The hotel recently completed a comprehensive lobby renovation, including completely reimagining its restaurants and food & beverage program. Learn more about the Hyatt Regency Jacksonville.