12/14/2008

Funding arranged to recapitalize Sarasota Hyatt

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A two-year, adjustable-rate loan has been arranged to allow the recapitalization of the Hyatt Regency Sarasota following a renovation of the property over the past two years.

Holliday Fenoglio Fowler (HFF) arranged the financing, with includes two one-year extension options, on behalf of The Blackstone Group.

Located at 1000 Boulevard of the Arts, the Hyatt Regency Sarasota is a 294-room hotel sitting directly on Sarasota Bay and close to the beaches of Lido Key, Longboat Key and Siesta Key as well as popular tourist attractions including St. Armand's Circle and the Van Wezel Performing Arts Hall. The property is a full-service hotel with 23,000 square feet of meeting space, 354 parking spaces and a 32-slip marina.

Address: 1000 Blvd. of the Arts, Sarasota, Fla.

Size: 294 rooms

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Filed Under: Hotel/Resort

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