JLL’s Hotels & Hospitality group has arranged financing for the 582-room Terranea Resort in Rancho Palos Verdes, Calif.
The Chicago-based global advisory and commercial real estate services firm secured a five-year, floating-rate loan from Barings on behalf of a joint venture between Lowe and JC Resorts. Opened in 2009, Terranea occupies a 102-acre coastal site on the Palos Verdes Peninsula. The resort includes guestrooms and suites, bungalows, casitas and villas, along with meeting and event space, food-and-beverage outlets, a spa, golf course and recreational facilities.
“Terranea stands out for its premier coastal location, strong operating history and experienced ownership,” JB Gerber, managing director at Barings, said in a statement. “We are pleased to partner with Lowe and JC Resorts to deliver a tailored financing solution that supports their long-term vision and aligns with our continued focus on well-positioned hospitality properties.”
The JLL team involved in the financing included Mike Huth, Shalin Patel and Jade Lewin.