BOSTON—JLL Capital Markets announced that it arranged $7.59 million in financing for The Sandbar Hotel, Trademark Collection by Wyndham, a 121-key, limited-service, beachfront hotel located in Myrtle Beach, South Carolina.
JLL worked on behalf of the borrower, Linchris Hotel Corporation, to secure the first mortgage refinancing through HarborOne Bank.
The Sandbar Hotel, Trademark Collection by Wyndham is comprised of four separate buildings. The main building and the adjacent “south building” contain 88 total guestrooms, the oceanfront building consists of 27 guestrooms, and there are two three-bedroom cottages located one street behind the main building. Additionally, the hotel includes four one-bedroom apartments and an additional parcel of land currently being used for 28 parking spaces.
The Sandbar Hotel is well-positioned for the customer base of Myrtle Beach’s 20 million annual visitors. The hotel is located in proximity to the Myrtle Beach International Airport and many tourist attractions including beaches, restaurants, and several golf courses. Further, the hotel has amenities that include a heated indoor pool and hot tub, an outdoor pool with a lazy river and hot tub, a 24-hour business center, a 24-hour fitness center, a breakfast area, and beach access. Formerly a Best Western Plus, the hotel was rebranded to The Sandbar Hotel as part of the Trademark Collection by Wyndham in September 2022.
The JLL Capital Markets team was led by Senior Directors Amy Lousararian and Henry Schaffer.