Jones Lang LaSalle Inc.
01/13/2026 | Press release | Distributed by Public on 01/13/2026 10:02
JLL secures $167.7M refinancing for 15-property WoodSpring Suites portfolio
NEW YORK CITY, Jan. 13, 2026 - JLL's Hotels & Hospitality Group announced today it has arranged $167.7 million in refinancing for a 15-property WoodSpring Suites portfolio totaling 1,829 keys across Michigan, Tennessee, North Carolina and Florida.
JLL worked on behalf of the borrower, a partnership between Whitman Peterson and affiliates of Concord Hospitality Enterprises Company, to secure a floating-rate, five-year loan through CIM Group. The financing includes $117.7 million in initial funding with an additional $50 million available for earn-out opportunities and asset additions.
The newly constructed extended-stay properties, all opened within the past two to five years, are strategically positioned in high-performing markets spanning Jacksonville, Charlotte, Raleigh-Durham, Detroit, Grand Rapids, Knoxville and Nashville.
The portfolio showcases the robust performance characteristics that define the WoodSpring Suites brand, featuring properties with fee-simple ownership, non-union operations and select-service positioning. Each asset benefits from prime locations near major transportation corridors, employment centers and essential amenities.
The portfolio demonstrates the efficiency of the extended-stay operating model, with approximately 85 percent of occupied rooms generated by guests staying seven or more nights. This guest profile enables the properties to operate more like short-term apartments than traditional hotels, resulting in higher profit margins and more stable cash flow.
The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Jillian Mariutti, Director Harry Keeshan and Analyst Malia Buljat.
"The successful refinancing reflects the strength of the extended-stay sector, the quality of this particular portfolio and the strength of the sponsors," said Davis. "Concord Hospitality and Whitman Peterson represent best-in-class sponsorship with deep expertise in extended-stay development and operations, including a pipeline of over 50 additional properties. With demand for extended-stay accommodations expected to grow five percent annually while new supply remains limited, these assets are well-positioned for continued strong performance."
For more news, videos and research resources, please visit JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Concord Hospitality
As an award-winning hotel development and management company, Concord Hospitality Enterprises Company has spent the last three decades successfully growing the company's portfolio, which includes premium-branded properties across the United States and Canada. Recognized as one of the top 10 management companies in North America, Concord Hospitality creates benefits for its partners and associates by leveraging its operations, development, sales and marketing, technology, accounting and operational management expertise to continue to grow its portfolio of best-in-class hotels. The company believes its people are its greatest strength. With the brightest talent, the most innovative processes and a commitment to giving back to the communities where associates live and work, Concord Hospitality is committed to being a great place to work for all. Learn more at concordhotels.com.
About Whitman Peterson
Whitman Peterson is a real estate private equity company investing in and actively managing opportunistic real estate investments on behalf of large institutional investors. Since late 2010, WP has raised four institutional funds and has invested in the acquisition or development of more than 150 properties, with an aggregate capitalization of more than $20 billion. The firm has investments across 30+ markets in the U.S. and has investments in the U.K. and Latin America.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM's diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
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