$63,375,000 First Mortgage Loan
Ramsfield originated a $63,375,000 first mortgage loan to finance the acquisition of the 403-room Westin Savannah Harbor Golf Resort & Spa in Savannah, Georgia. With a deep knowledge of the hotel industry and experience with resort assets, Ramsfield was able to move quickly on the opportunity and close the loan in four weeks from executing the term sheet.
As the only full-service resort in Savannah, the Westin provides guests with luxurious amenities, including an 18-hole golf course and club, 21-treatment room Heavenly spa, marina, tennis courts, and resort pool overlooking Savannah’s skyline. The Westin Savannah Harbor is also ideally located next to the Savannah International Trade & Convention Center, giving the Resort direct access to the 220,000 square-foot facility, helping it to capitalize on Savannah’s rising status as a group and convention destination.
In addition to its location, the Resort’s multiple restaurant outlets and over 36,000 square feet of meeting space has established the property as the premier group hotel in the market. The Resort benefits from strong management by Westin Hotels & Resorts and its presence in a rapidly growing market.
The Resort is a short drive or free ferry-ride away from Historic Savannah, which attracts tourists for its culture, entertainment, and rich history. Savannah has experienced impressive economic growth in recent years, driven by the recognition of Savannah as a major tourist destination. To learn more about the Westin Savannah Harbor, please visit the hotel’s website.