P
artners Group has secured a significant refinancing deal for its Ritz-Carlton hotel in Las Colinas, a suburb of the Dallas-Fort Worth area. The Swiss-based private equity firm obtained a $210 million loan for the property, which is owned by a joint venture between Partners Group and Trinity Investments. Marathon Asset Management provided the financing, with JLL's team led by Kevin Davis, Mark Fisher, De'On Collins, and Caleigh O'Connell arranging the deal.

    The Ritz-Carlton Las Colinas features 427 rooms, 80,000 square feet of meeting space, five dining options, a pool, spa, and access to an 18-hole golf course. Located at 4150 North MacArthur Boulevard in Irving, it's about 14 miles from downtown Dallas and less than 10 miles from DFW International Airport.

    The hotel underwent a $55 million renovation after being rebranded as the Ritz-Carlton in January. The joint venture purchased the property in May 2022 and began renovations the following year. JLL's Davis described the hotel as one of the top three hotels in the metroplex, with Dallas-Fort Worth now home to two Ritz-Carlton properties.

    The refinancing deal comes at a time when commercial real estate operators are hopeful that interest rates will become more favorable for refinancing deals, following the Federal Reserve's recent reduction.