Knighthead Funding Originates $61 Million Loan to Refinance Dorado Beach, a Ritz-Carlton Reserve, in Dorado Beach, Puerto Rico
Knighthead Funding LLC | March 17, 2021
Greenwich, CT (March 17, 2021) – Knighthead Funding has provided a $61 million first mortgage loan secured by Dorado Beach, a Ritz-Carlton Reserve, in Dorado Beach, Puerto Rico. The five-year, floating-rate, non-recourse loan from Knighthead Funding refinances maturing debt. As the first Ritz-Carlton Reserve Hotel in the Americas and one of only five in the world, Dorado Beach, a Ritz-Carlton Reserve, is one of the most luxurious properties under the Ritz-Carlton Reserve flag. Opened in 2012, Dorado Beach, a Ritz-Carlton Reserve, is situated in the exclusive gated neighborhood of Dorado Beach, on the former Laurence Rockefeller estate...
Knighthead Funding, LLC Originates $36 Million Loan to Refinance Newly Constructed Luxury Hotel at Hartsfield-Jackson Airport in Atlanta
Knighthead Funding | January 28, 2019
Greenwich, CT (January 28, 2019) – Knighthead Funding, LLC has provided a U.S. subsidiary of Switzerland-based private real estate investment firm ACRON with $36 million in short-term first mortgage debt to refinance a newly constructed luxury destination hotel at the Hartsfield-Jackson Atlanta International Airport. The financing is secured by the Kimpton Overland Hotel, formerly Solis Two Porsche Drive, a full-service, 214-key hotel with 9,500 square feet of meeting space, a high-end restaurant, rooftop and lobby lounges, indoor pool, and fitness center. Proceeds from the three-year, fixed rate loan will be used to take out the ...
Knighthead Funding Originates $8.5 Million Loan to Complete Construction of Holiday Inn & Suites Near Savannah, GA
Knighthead Funding | November 6, 2018
Greenwich, CT (November 6, 2018) -- Knighthead Funding, LLC has funded an $8.5 million construction loan for the completion of a 104-room Holiday Inn & Suites in the Savannah submarket of Pooler, GA. The sponsor, a Georgia-based hotel development and management company whose portfolio currently includes flags such as Hilton, Marriott and Holiday Inn had funded the entire development with all equity prior to Knighthead's involvement. Due to liquidity constraints, the Sponsor needed a creative source of capital to get comfortable in funding a project that was approximately 50% completed. The Greenwich, CT-based lender was able to reco...
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