BOSTON– JLL Capital Markets introduced that it has closed the sale of and secured acquisition financing for Cape Codder Resort & Spa, a 266-key resort in Hyannis, Massachusetts on Cape Cod.
JLL represented the vendor, Catania Hospitality Group, in the sale to Linchris Hotel Corporation. As well as, JLL represented Linchris and labored with long-time accomplice Tristan Pierce, FVP Business Lending at HarborOne Financial institution to safe their financing. The resort was provided unencumbered by model and administration.
Cape Codder Resort & Spa facilities embrace 18,000 sq. ft of assembly and occasion house, a waterpark, health middle, on-site spa, seasonal indoor/out of doors swimming swimming pools, pickleball court docket, inner courtyard and a present store. As well as, the resort has 4 meals and beverage shops, together with Grand Cru Restaurant, Fireside n’ Kettle Restaurant, The Deck and Gazebo Café. Most not too long ago renovated in 2008, the resort affords a mixture of conventional visitor rooms and luxurious suites.
The resort is positioned in Hyannis, the biggest of the seven villages of Barnstable County and a key tourism vacation spot on Cape Cod for residents of Boston, Windfall and extra. The coastal city is thought for its cultural arts district, seashores, leisure boating and business fishing. Cape Codder Resort & Spa additional advantages from the realm’s historic landmarks, together with the John F. Kennedy Hyannis Museum, Memorial and Kennedy Compound, in addition to the Veterans Memorial Park and Korean Struggle Memorial. The city is accessible through Route 6 and is served by two ferries that depart 2.8 miles from the resort offering entry to Nantucket and Martha’s Winery. Moreover, the Barnstable Municipal Airport affords year-round flights between Hyannis and Boston Logan Worldwide Airport.
The JLL Capital Markets Funding Gross sales Advisory staff representing the vendor was led by Managing Director Alan Suzuki and Senior Director Matthew Enright.
“It’s our privilege at JLL to efficiently facilitate once-in-a-lifetime gross sales on behalf of native homeowners who’ve been so dedicated to the realm’s tourism trade,” stated Suzuki.
The JLL Capital Markets Debt Advisory staff representing the borrower was led by Managing Director Greg LaBine and Senior Director Amy Lousararian.
“The aggressive financing course of exhibits that there’s nonetheless ample liquidity in the native banking marketplace for well-located belongings just like the Cape Codder,” stated Lousararian.
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