CIM Group Closes on $63.87 Million Financing for Two Aloft Hotels in Orlando and Tampa, FL

CIM Group announced today that its CIM Real Estate Debt Solutions business closed on behalf of a CIM managed fund a $34.97 million senior loan to a joint venture between Monarch Alternative Capital and HHM Hotels secured by the dual-branded Aloft/Element hotel in Orlando and a $28.9 million whole loan to Newbond Holdings secured by the Aloft in Tampa.
Source: New feed

Quest Chermside Hotel in Brisbane Sold

As transactional volumes in Brisbane’s hotel market continue to increase through 2023, a Queensland-based hotel group has just acquired the freehold interest in Quest Chermside.
Source: New feed

Marriott International to Open Three Hotels in Indonesia's New Capital City

Marriott International, Inc. announced it has signed a Hotel Management Agreement with Indonesian real estate developer, PT. Pakuwon Jati Tbk. to open three properties in Indonesia’s new capital city, Ibu Kota Negara Nusantara. The multi-deal agreement was signed by President and CEO of Marriott International Anthony Capuano and President Commissioner of PT. Pakuwon Jati Tbk. Alexander Tedja.
Source: New feed