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RobertDouglas Advises Braemar Hotels & Resorts on the $80-Million Refinancing of Pier House Resort & Spa in Key West, Florida

New York - 23 October 2019

New York – October 23, 2019 -  RobertDouglas announced today that it advised Braemar Hotels & Resorts (NYSE: BHR) in securing an $80-million non-recourse senior mortgage for the refinancing of Pier House Resort & Spa in Key West, Florida. Evan Hurd, Principal and Managing Director with RobertDouglas, made the announcement.

 “This was a highly efficient execution with the lender providing extremely attractive terms. As a superior property with robust in-place cash flows in one of the nation’s strongest and most desirable lodging markets, the property facilitated a highly-competitive process,” said Hurd.

 Located in an irreplaceable location in one of the highest barrier-to-entry markets in the world, the iconic, waterfront Pier House Resort & Spa in Key West features 142 guestrooms, a 2,600-square-foot conference center, and numerous high-end amenities, including a private white sand beach, an outdoor heated pool with whirlpool, a health club and fitness center, and a 10,000-square-foot spa, the only full-service spa in Key West.

 “Key West’s long-term track record of strong RevPAR performance, resiliency though economic downturns, and extremely high barriers-to-entry attracted robust lender interest,” commented Lindsey Whang, Director with RobertDouglas. Key West is widely considered to be one of the top lodging markets in the country. With regulations in place that make it nearly impossible for new supply, recent increases in direct flights from New York, Chicago, Dallas and Atlanta, and strong leisure travel trends, the market is expected to see continued growth for the foreseeable future.

 About RobertDouglas

RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles, and  San  Francisco, specializing in  the  sale,  financing,  and  equity  capitalization  of  hotel,  resort,  and  gaming  properties  throughout  North  America. Founded  by  two  of  the  hotel  industry’s  pre‐eminent  finance  professionals,  Rob  Stiles  and  Doug  Hercher,  RobertDouglas  offers  exceptional  domestic  and  international institutional  investor  and  lender  relationships.  The firm  combines  the  capital  markets sophistication of top-tier investment banks with detailed hotel underwriting and  asset  management  expertise,  providing  the  firm  with  unique  capabilities  in  an  underserved market. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.

 

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