BETHESDA, MD—Walker & Dunlop Inc. has arranged construction financing in the amount of $218,242,000 for JW Marriott Bonnet Creek, a 516-key, luxury hotel and resort project located within the confines of Walt Disney World in Orlando, FL.
The total project cost is $282 million, and the total capitalization of $218.2 million (77.3%) comprises both senior and mezzanine debt. The project is being developed by DCS Real Estate Investments, an affiliate of Schar Holdings, which is a privately owned real estate development firm founded by Dwight Schar. The financing was arranged by a partnership of Walker & Dunlop's Miami capital markets team and New York-based SRF Ventures Inc., which is led by President Steven Fischler.
Walker & Dunlop's team includes Kevin O’Grady, Daniel Sheehan, and Eric McGlynn, all managing directors based in Miami, who have been active in structuring non-recourse construction loans nationwide for property types including multi-family, retail and hospitality. The team also focuses on identifying providers of equity, structured debt, and portfolio financing for developers and value-add owners and operators. Throughout their careers, they have closed in excess of $16 billion of debt and equity transactions.
JW Marriott Bonnet Creek is expected to be complete in the fourth quarter of 2019. The 4.5-star luxury resort will have full-service F&B options, 50,000 sq. ft. of meeting and banquet space, business center, luxury spa and fitness area, and recreational facilities with a lazy river and guest pools.