DALLAS- Working exclusively on behalf of affiliates of the Blackstone Group LP, HFF's local office has placed a three-year, floating-rate, $581 million loan with GE Capital Real Estate to refinance a 16-hotel portfolio. The portfolio contains 4,798 rooms located in major markets throughout the United States.

The HFF team representing the borrower was led by senior managing directors Trey Morsbach and Dan Peek and managing director John Bourret. According to a release from HFF, the transaction provided an exceptional opportunity to finance a first-class, institutional sponsor with premium-branded assets in strong, major markets.

The portfolio is comprised of 12 full-service hotels, four boutique hotels and one golf course/tennis club. The properties are:

• Sheraton San Francisco Fisherman's Wharf in San Francisco
• Hilton Irvine-Orange County Airport and Marriott Irvine in Irvine, CA
• DoubleTree Austin in Austin, TX
• DoubleTree Suites Indianapolis-Carmel in Carmel, IN
• Hilton Clearwater Beach Resort in Clearwater, FL
• South Seas Island Resort in Captiva Island, FL
• The Inns of Sanibel (four boutique hotels) and The Dunes Golf and Tennis Club in Sanibel Island, FL; DoubleTree Orlando-Universal in Orlando
• Hilton Cocoa Beach Oceanfront in Cocoa Beach, FL
• Hilton Key Largo Beach Resort in Key Largo, FL
• Ritz-Carlton Pentagon City in Arlington, VA
• Marriott Princeton-Forrestal in Princeton, NJ