Grande Lakes Orlando
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| Location: | Orlando, FL |
| Rooms: | 1,582 |
| Built: | $567 MM |
| Property Sale: | $753 MM |
Investment Results
- Sold at $200mm profit
- 47.9% IRR
- 3.9x multiple on invested equity
Opportunity
- Creation of a luxury destination resort in Orlando
- Development Budget of $567MM ($358K/ key)
- Top-starred hotel in the market
- High-end group and compete with top Disney hotels
Value Added
- Creative financial engineering (debt service shortfall facility and completion guarantee)
- Asset-managed construction and opened on schedule and on-budget
- Refinanced the hotel with a $400MM senior loan in year 3
- Reduced original equity by 50% with land sales
