The owners of the Diplomat Beach Resort have refinanced the property with a new $600 million loan.
JLL’s Hotels & Hospitality Group arranged the interest-only loan for the joint venture between real estate funds managed by Trinity Investments and funds managed by UBS Asset Management’s Global Real Assets business, according to a news release. The new floating-rate loan is structured as a single-asset, single-borrower commercial mortgage-backed security transaction. JP Morgan Chase & Co. and Citi are the lenders.
"This refinancing reflects the strength of the debt capital markets for premier hospitality assets in high-performing lodging markets," said Kevin Davis, Americas CEO for JLL Hotels & Hospitality. "We are seeing continued lender appetite for hotel investments, especially for properties that demonstrate quality, strategic positioning and solid fundamentals. The Diplomat checks all those boxes, and we were able to secure financing that recognizes the value Trinity and UBS have created through their renovation program and operational excellence."
The joint venture, which at the time included Credit Suisse Asset Management that was later acquired by UBS, bought the Diplomat in 2023 for $835 million. JLL was involved in the sale as well as the property’s refinancing in 2024.
Following the purchase of the Diplomat, Trinity President and CEO Sean Hehir told CoStar News Hotels the beachfront resort was “irreplaceable.”
"Where else in the country can you find 10 acres on the ocean and another 10 acres across the road on the [Intercoastal Waterway] to build a hotel like this?" he said at the time.
The 1,000-key resort in Hollywood, Florida, underwent an $80 million renovation program to prepare it for conversion to Hilton’s Signia by Hilton brand. It has more than 200,000 square feet of integrated meeting and events space, and it has a twin-spired, 36-story tower for its guestrooms and suites, 15,000-square-foot spa, six restaurants and bars, and multiple pools and waterfalls.
In December 2025, Meghan Fitzgerald, Signia's brand leader at Hilton, told CoStar News Hotels that 2026 will be a big year for the brand domestically, pointing to the opening of the new-build Signia by Hilton Indianapolis this fall and the expected completion of the conversion of the Diplomat to the Signia by Hilton Diplomat Beach Resort.