A joint venture led by Trinity Investments has arranged a $750 million refinancing of the existing $650 million loan for the Grande Lakes Orlando Resort in Orlando. The refinancing follows the completion of Trinity’s $118 million renovation and repositioning plan for the resort. The property was refinanced with a floating rate CMBS loan.
The 409-acre, 1,592-key resort, anchored by The Ritz-Carlton and JW Marriott, is among the top resort and conference destinations in the Marriott system. Grande Lakes has a variety of amenities, including spa treatments, golf, farm-to-table dining, and pools with new deluxe cabanas. The Ritz-Carlton holds several prestigious distinctions, including recognition as one of two AAA 5-Diamond resorts in Orlando, one of three Forbes 4-Star resorts in Orlando, and one of four Michelin 1-Star restaurants in its market.
The Trinity-led joint venture acquired the resort in 2018 and since acquisition, the property has undergone an extensive renovation to the rooms and public areas, adding 12 guestrooms, elevated food and beverage experiences and a pool renovation, which includes a new water park.
“Since acquiring Grande Lakes, we’ve completed a transformation of the resort, making it a go-to destination for both individuals and group travel in Orlando, and Florida more broadly,” Trinity President, CEO and Managing Partner Sean Hehir said in a statement. “Our ability to refinance the asset at attractive terms in today’s market is a testament to our ability to revitalize the resort for a new generation of travelers and position the asset for continued operational out-performance. We are grateful to our financial partners for their continued support of the business.”