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Case study

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JLL’s differentiated approach drives measurable outcomes for clients The challenge

The JLL approach

What was the problem that our client needed help with? Ideally, the challenge will be rooted in a trending industry theme or topic to demonstrate relevant expertise.

In this section, we set the stage by briefly introducing the case study and the client.

We highlight the relevant industry or category and recent developments. Simultaneously, we address the challenge the client needed assistance with, emphasizing its significance within the industry.This concise presentation will captivate the audience’s attention and establish the groundwork for the rest of the case study.

Visual: Before

Visual: After

Bringing it to life

“

The improvements and spec suite program that KBS implemented received praise from other landlords in the region and help increase demand for creative office space by blue-chip and ‘next-generation’ technology companies and seized upon the opportunity to add much-desired amenities to this asset in order to appeal to the millennial workforce.

Tim Helgeson Senior Vice President at KBS

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Discover the unique strategies and services employed to address the client’s challenge. We leverage insights and expertise in sustainability, technology, and the future of spaces to craft tailored solutions. This section explores the strategic growth pillars embodied in the case study, showcasing our innovative approach and highlighting the impactful outcomes achieved for the client.

Name, Country/Region Service

Placeholder text

Demonstrating how JLL helped the client SEE A BRIGHTER WAY

Service Sub-type

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Witness the real-world manifestation of our solution and the remarkable journey that unfolded. Explore the tangible results achieved and any noteworthy milestones encountered along the way. This section showcases the specific timeline and highlights how JLL’s expertise made a significant impact on the client’s business, bringing about transformative changes and driving success.

Value

$XXXXXXX

Date

MM/DD/Year

Client

ABC Client

Partner

Placeholder text

Industry

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Watch video and read more

Title: This should summarize the partnership with the client.

Deal summary

Highlights

Portfolio of 11 3-, 4- and 5-star hotels located in France and Switzerland with one further acquisition approved in Spain. The Assets are all owner-operated and comprise ~500 keys, with no one hotel having more than 83 keys. The Assets are located in high-end ski locations as well as the luxurious PACA region of France and the Balearic Islands in Spain. The three Swiss Assets were acquired in January 2022 to be completely refurbished. The Client operates lifestyle hotels, offering guests a luxurious experience in well-located hotels with modern and authentic interiors.

• Highlighting key differentiators or unique aspects of JLL's approach or solution.

LTC

Term (Yrs)

Rate type

Index

Margin

• Total capex spend will be ~€96M; this will add a further 89 keys and reposition some hotels to 5*.

• JLL were able to source both senior and whole-loan leverage options with the Client ultimately deciding to opt for a whole-loan.

• 60 lenders approached and 7 quotes received.

Fees

Other terms

Winning quote

Debt fund

70.5%

5

Floating

3M EURIBOR (floored at 0%)

5.00%

In:Out: non-u:

1.50% None (1) 1.50%

Prepayment: 24-month make-whole.

Accordion: uncommitted accordion of €100M for further acquisitions.

Covenants: soft – DY; 7.0%; hard – LTV, 85%; DY, 3.50% (y3) / 5.00% (y4)/ 6.00% (thereafter) guarantees: fund g’tee for equity’s capex portion.

In:Out: non-u:

1.50% 1.50% 2.20%

Prepayment: 36-month make-whole Interest reserve: to be funded day-1 Covenants: soft – TBC; hard – LTV, 75%; ICR, 1.35x Guarantees: fund guarantee for the equity’s portion of capex

In:Out: non-u:

1.00% None None

Hedging: in-place for each extension Margin ratchet: down to 4.00% once NOI DY, 8.50% Interest reserve: to be funded day-1 Covenants: soft – LTV, 70%; DY, 7.00%; hard – LTV, 75%; DY, 6.00%

Select other quotes Debt fund

Investment bank

70.0%

62.5%

4

3+1+1

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Floating

Floating

3m euribor

3m euribor

5.50%

4.50%