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, within the sale to Linchris Resort Company. As well as, JLL represented Linchris and labored with long-time accomplice Tristan Pierce, FVP Industrial Lending at HarborOne Financial institution to safe their financing. The resort was supplied unencumbered by model and administration.
Cape Codder Resort & Spa facilities embrace 18,000 sq. ft of assembly and occasion area, a waterpark, health middle, on-site spa, seasonal indoor/outside swimming swimming pools, pickleball courtroom, 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 just lately renovated in 2008, the resort provides a mixture of conventional visitor rooms and luxurious suites.
The resort is positioned in Hyannis, the most important 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 Conflict Memorial. The city is accessible by way of 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 provides year-round flights between Hyannis and Boston Logan Worldwide Airport.
The JLL Capital Markets Funding Gross sales Advisory group 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 house owners who’ve been so dedicated to the realm’s tourism business,” stated Suzuki.
The JLL Capital Markets Debt Advisory group 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 within the native banking marketplace for well-located property just like the Cape Codder,” stated Lousararian.