JLL arranges $136M refinancing for the Fairmont Orchid on behalf of Mirae Asset Global Investments

NEW YORK CITY, May 30, 2025 – JLL’s Hotels & Hospitality Group announced today that it has arranged a $136 million refinancing for the Fairmont Orchid, a 540-key, AAA Four Diamond luxury resort located on Hawaii's Big Island.

JLL worked on behalf of the borrower, Mirae Asset Global Investments Co., Ltd., to secure a five-year, fixed-rate loan through New York Life Real Estate Investors (NYLREI).

“We are pleased to have closed the financing of the Fairmont Orchid, a premier luxury full-service resort,” said James Nearon, Senior Director of NYLREI’s West Coast originations team. “This transaction underscores New York Life Real Estate Investors’ capability to structure and execute financing solutions on high-quality hospitality assets. The strong sponsorship of Mirae Asset Global Investments and attractive market fundamentals made this a compelling opportunity that fits nicely within our broader lending strategy.”

The Fairmont Orchid is situated on 32.6 oceanfront acres along the prestigious Kohala Coast. The full-service property features a crescent-shaped white sand beach fronting Pauoa Bay, a 10,000-square-foot oceanfront pool, a full-service spa, a fitness center, retail shops and a ten-court tennis facility. Guests can enjoy seven on-site food and beverage outlets, including the AAA Four Diamond-rated Brown's Beach House restaurant. With approximately 108,000 square feet of meeting space, the resort is also well-equipped to host large events and conferences.

Additionally, the hotel occupies a prime location within the 3,200-acre Mauna Lani Resort community, offering guests access to a championship golf course, shopping and ancient Hawaiian sites. Strategically situated less than 30 minutes from Kona International Airport, the property is also within close proximity to major attractions like Akaka Falls National Park, Hilo, Mauna Loa Forest Reserve and Hawaii Volcanoes National Park.

The property owner, Mirae Asset Global Investments Co., Ltd., a globally recognized real estate investor with over $267 billion under management, is undertaking a multi-year, $110 million renovation projects, with Phase 1 scheduled for completion this year. The upgrades have enhanced the resort's luxury positioning and are expected to drive significant improvements in both top-line and bottom-line performance.

The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mike Huth, Senior Associate Maddie Blount and Analyst Jade Lewin.

"The Fairmont Orchid's prime oceanfront location, strong cash flow and recent renovations generated significant lender interest," said Davis. "The financing terms secured not only reflects confidence in the asset but also in the continued strength and resilience of Hawaii's luxury hospitality sector."

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

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Founded in 1997, Mirae Asset Global Investments is the asset management arm of the Mirae Asset Financial Group, one of Asia’s leading independent financial services companies. Mirae Asset Global Investments was founded in Asia and now operates worldwide with 25 offices in 15 countries, where it takes a collaborative approach in managing a fully diversified investment platform. Powered by a unique perspective and the expertise of more than 300 global investment professionals, Mirae Asset Global Investments adapts to its clients’ evolving needs, providing them with innovative investment solutions and intelligent ways to achieve their investment objectives. Mirae has approximately $267 billion in assets under management and is an industry leader in real estate investment and real estate fund management.

New York Life Real Estate Investors (NYLREI) is a full service, fully integrated real estate enterprise with approximately 170 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans and commercial mortgage-backed securities. With over $70 billion in assets under management as of March 31, 2025,¹ NYLREI is actively seeking to acquire additional properties throughout the U.S.

NYLREI is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. For more information, please visit: www.nylinvestors.com.

1. REI AUM of $70.6B is gross and includes AUA ($0.6B) as of 3/31/2025. Net AUM for Real Estate Investors is $68.2B as of 3/31/2025.