Strategic Hotels & Resorts has secured a new $300 million revolving credit facility. The loan, which allows an additional borrowing capacity of up to $400 million, will replace a $350 million secured loan that was due to mature in March 2012. The facility is secured by the Four Seasons Punta Mita, Marriott Lincolnshire, Ritz-Carlton Half Moon Bay and Ritz-Carlton Laguna Niguel hotels.
The asset manager of high-end hotels and resort appointed Deutsche BankSecurities and JP Morgan Securities as joint book runners and joint lead arrangers for the facility. Citibank and Wells Fargo served as co-documentation agents.
Click here for the release from PR Newswire.