Barings has sold the JW Marriott Marco Island Beach Resort, an 809-room luxury beachfront property in Southwest Florida.
Newsline report the transaction earlier this week. The sales price was $835 million.
JLL’s Hotels & Hospitality group arranged the sale and $690 million financing for the JW Marriott Marco Island Beach Resort. A joint venture between Sculptor Real Estate and Trinity Investments acquired the asset. JLL also worked on behalf of the borrowers to secure a five-year, floating-rate loan through Wells Fargo and JPMorgan Chase & Co., which was securitized in a stand-alone CMBS offering.
MassMutual, through its global asset manager Barings, owned the resort for decades. In 2018, Barings completed a $320 million renovation that included the addition of the adults-only tower, new facades, and guest-room
