While lingering disturbance in the capital markets has resulted in a current lending environment with tighter pocket-books and more rigorous underwriting standards, Jones Lang LaSalle leveraged its extensive lender relationships to secure a loan with HSBC. The initial two-year, floating rate loan includes attractive multi-year extension provisions providing Walton Street Capital the flexibility it needs to recapitalize the resort.

“Given this refinancing offering hit the market in the midst of the credit crunch, it took a good deal of diligence and fortitude to finalize an accretive transaction that worked for both sides of the transaction. We’re pleased to find a lender that understood the value created by strong Walton Street Capital sponsorship that made this hotel the region’s top destination resort," said Dave Christensen, an executive vice president for Jones Lang LaSalle’s Capital Markets Group.

“The resort’s $17 Million renovation in 2007 included updates of existing casitas and suites, as well as a remodel of the lobby and the addition of the new Talavera restaurant and Onyx bar.  These upgrades reinvigorated this property, which in turn greatly enhanced the refinancing package,” added Jeffrey Davis, an executive vice president of Jones Lang LaSalle Hotels.

The Four Seasons Resort Scottsdale at Troon North is an ultra-luxury destination resort in Scottsdale, Arizona, featuring 210 guestrooms and suites, 36,000 square feet of meeting space, a world-class spa, extensive recreational facilities, and fine-dining restaurants.  The main building of the resort and 25 clusters of casita structures combines Southwestern-style architecture and Four Seasons sophistication.

The resort is located in the northern Scottsdale region at the southeast quadrant of Pima Road and Dynamite Boulevard.  Set on 23 acres of land, the resort is surrounded by a dramatic backdrop of rugged terrain, mountain vistas and city lights.  Purposely built in a secluded desert environment, only minutes from the world-class Troon North golf courses, the resort is only a short drive to the North Scottsdale Road Corridor, Arizona’s premier retail district. The resort is approximately 26 miles north of Phoenix Sky Harbor International Airport, the seventh busiest airport in the country in terms of passenger counts.  Over the past three years, Jones Lang LaSalle has raised more than $3.0 billion in debt and equity for hotel clients.  The real estate investment banking team is focused on capital raising needs.  Jones Lang LaSalle Hotels provides advisory services to clients on all types of hotel transactions.

About Jones Lang LaSalle’s Capital Markets Group
Jones Lang LaSalle's Capital Markets Group is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations. The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.  The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product.  The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide secondary loan sale advisory services.  The Corporate Finance professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  Collectively, the firm's Capital Markets Group handled $82 billion in annual transaction volume in 2007.

About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide both the depth and breadth of advice required by hotel investors and hotel companies, through a robust and integrated local network. In 2007, Jones Lang LaSalle Hotels provided sale and purchase advice on 259 hotel transactions globally; representing a combined value of US$13.9 billion, a total of 54,763 hotel rooms in 84 cities. In addition advisory and valuation services were provided on 660 assignments globally for 182,048 rooms across more than 300 cities.

The global team comprises over 270 hotel specialists, operating from 31 offices in 18 countries. The firm’s advice is supported by a dedicated global research team, which produced over 45 publications in 2007 in addition to client research. Jones Lang LaSalle Hotels’ services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels’ clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL).