Richmond, Va. – John B. Levy & Company is pleased to congratulate Shamin Hotels on its acquisition of Virginia Beach’s premier oceanfront hotels, Hilton Oceanfront and Hilton Garden Inn, totaling 456 rooms and extensive meeting space. Working closely with the Shamin team, John B. Levy & Company arranged long-term, fixed rate, non-recourse financing for both assets. Additionally, the closing was accomplished in record time, meeting the needs of both the buyer and seller.
According to John Levy, “It’s very rare that oceanfront properties of this size and quality become available on a major beach. These properties were at the highest level, and as a result attracted quite a bidding war from interested, long-term investors.”We would also like to thank the team at Gold Key | PHR for their kind assistance in making this transaction happen. We wish Shamin Hotels the best and thank them for the opportunity to underwrite, structure, and close the loan on this exciting transaction.