Park Hotels & Resorts Repays $1.275B CMBS Loan Secured By Hilton Hawaiian Village Waikiki Beach Resort

Park Hotels & Resorts Inc. has repaid a $1.275 billion CMBS loan secured by the Hilton Hawaiian Village Waikiki Beach Resort. The repayment was financed through a $700 million delayed-draw Bonnet Creek mortgage and a $600 million draw from its term loan facility. This transaction has extended Park's weighted-average debt maturity by approximately 1.5 years to 3.1 years, with less than 11% of its total debt maturing through 2027.