NEW YORK--(BUSINESS WIRE)--Marathon Asset Management’s Commercial Real Estate platform originated a $210 million loan to refinance The Ritz-Carlton Dallas, Las Colinas, a recently renovated 427-key resort located within the Dallas-Fort Worth metroplex.
Marathon’s Commercial Real Estate Team, led by Managing Director Joseph Griffin, closely worked with a joint venture between Trinity Investments, a leading hospitality sponsor, and Partners Group, one of the largest global private markets firms, to originate and structure a new loan on the property.
“Trinity and Partners Group are exceptional sponsors, executing on a strategic renovation plan to position The Ritz-Carlton Las Colinas as one of the premier hotels in Dallas,” Griffin said in a statement. “Marathon is growing our presence with a 20+ year history of real estate lending, focused on partnering with strong sponsors to effectuate their business plan with $50-$250mm loans. With the enormous financing gap, Marathon is dedicating significant capital across asset classes and throughout the capital stack to be a best-in-class partner for sponsors and owners.”
Previously known as the Four Seasons Resort and Club Dallas at Las Colinas, the hotel was acquired in May 2022. The hotel was extensively renovated starting in May 2023 and was rebranded as The Ritz-Carlton Dallas, Las Colinas last January.
The 16.7-acre hotel now has fully renovated rooms and common areas, more than 80,000 square feet of meeting space and best-in-class amenities. The amenities include five upscale food and beverage venues, a newly renovated resort-style pool, The Ritz-Carlton Spa & Lounge, access to an 18-hole golf course with driving range, a fitness center with indoor/outdoor tennis, a lap pool and squash/racquetball courts. The extensive renovations position the hotel to capitalize on business and leisure travelers in the strong Dallas Metro.
The hotel is situated just 15 minutes from DFW Airport, 20 minutes from downtown Dallas and 35 minutes from Fort Worth.
The JLL Hotels & Hospitality team led by Americas CEO Kevin Davis, Managing Directors Mark Fisher and De’On Collins arranged the financing.
About Marathon Asset Management:
Marathon Asset Management, L.P. is a leading global asset manager specializing in the Public and Private Credit markets with over $23 billion of assets under management. Marathon has dedicated investment programs spanning the spectrum of Private Credit: Direct Lending, Asset-Based Lending and Opportunistic as well as the spectrum of Public Credit. Marathon was founded in 1998 and is managed by Bruce Richards (Co-Founder & CEO) and Louis Hanover (Co-Founder & CIO) and employs more than 180 professionals, with 8 Partners. Its corporate headquarters are located in New York City, and it has offices in London, Miami, Los Angeles and Luxembourg. Marathon is a Registered Investment Adviser with the Securities Exchange Commission. For more information, please visit the company's website at www.marathonfund.com.
