JACKSONVILLE, Florida—Berkadia’s Hotels & Hospitality team arranged the refinancing of the leasehold interest in the Hilton Garden Inn-Homewood Suites Jacksonville Downtown Southbank, a 221-key, dual-brand hotel located in Jacksonville, Florida. Managing Director Michael Weinberg, Associate Director Alec Fox, and Senior Director Lindsey deButts of Berkadia Hotels & Hospitality secured the financing on behalf of Excel Group. A regional bank provided the five-year loan.
“Excel has significantly improved the property’s performance through operational efficiencies since acquisition in 2021,” said Weinberg. “This new bank loan will allow them to invest additional capital into the property which will drive property performance even further.”
Built in 2009, the Hilton Garden Inn-Homewood Suites Jacksonville Downtown Southbank is an eight-story hotel. Amenities include an outdoor pool, fitness center, an on-site restaurant, room service, meeting rooms, WiFi, and digital keys.
Situated within the Southbank submarket along the St. Johns River, the hotel is near 20.8 million square feet of office space within a three-mile radius, close to Downtown Jacksonville’s Sports & Entertainment district, and adjacent to a medical cluster that hosts Baptist Medical Center, Wolfson Children’s Hospital, and the MD Anderson Cancer Center and Nemours Specialty Care.