JLL’s Hotels & Hospitality Group has arranged $43 million in financing for a portfolio of five select-service and extended-stay hotels across five United States. The portfolio totals 554 rooms and consists of Marriott- and Hilton-branded properties.
The JLL Capital Markets team represented the borrower, American Hotel Income Properties REIT, to secure the five-year, fixed-rate loan through J.P. Morgan.
The hotels are located in Hanover, Md.; Neptune, N.J.; Milford, Conn.; Titusville, Fla.; and Pittsburgh, Pa. The properties, managed by Aimbridge Hospitality under a master hotel management agreement, are close to major airports, universities, corporate offices and tourist attractions.
According to JLL’s U.S. Select-Service and Extended-Stay Hotel Outlook 2025, the U.S. select-service hotel sector has shown resilience, with RevPAR for the sector reaching a record high of $78 in 2024 and demand projected to surpass 2019 levels by the end of 2025.
JLL’s Hotels & Hospitality Group has completed $83 billion in worldwide transactions over the last five years.