Refinanced Southern California Resort

0

This roundup features the latest deal and project funding from the US hospitality industry.


Lender: Bank OZK, brokered by Newmark
Borrower: GFI Capital Resources
Location: New York, New York
Value: $130 million
Loan date: February 1, 2022
Key takeaway: The refinancing of the property also included $65 million in subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.


Lender: Centennial Bank
Borrower: In Development Partners
Location: Palmetto, Florida
Value: $25 million
Loan date: January 25, 2022
Takeaway: The funding will fund construction of the 252-key hotel.


Lender: Acore Capital, brokered by JLL
Borrower: SD Malkin Properties
Location: Oceanside, California
Value: $265 million
Loan date: January 25, 2022
Takeaway: The new loan cancels funding for the construction of the 387-key resort, which opened in May 2021.


Lender: Canyon Partners Real Estate LLC
Borrower: BPM Real Estate Group
Location: Portland, Oregon
Value: $47.4 million
Loan date: January 21, 2022
Takeaway: The property was recently rebranded as part of Marriott’s Tribute portfolio.


Lender: Goldman Sachs Bank USA, brokered by JLL
Borrower: Kam Sang Company
Location: Palm Desert, California
Value: $128 million
Loan date: January 18, 2022
Takeaway: The loan refinances the resort’s existing debt of 884 keys which was due to mature in February 2022.


Lender: Driftwood Capital
Borrower: Grand Heritage Hotel Group
Location: Estes Park, Colorado
Value: $139 million
Loan date: January 12, 2022
Takeaway: The loan funds the acquisition of the 89-key Fall River Village Resort and the refinancing of four lodging options at the historic Stanley campus.


Lender: Sonnenblick-Eichner Company
Borrower: Graves Hospitality and KCB Real Estate
Location: Portland, Oregon
Value: $39 million
Loan date: January 12, 2022
Remember: The loan pays off construction financing and closing costs, as well as an interest reserve.


Lender: PACE Loan Group
Borrower: United Properties
Location: Minneapolis, Minnesota
Value: $20 million
Loan date: January 7, 2022
Takeaway: This is the largest clean energy loan rated by a commercial property to date in the state of Minnesota.

Return to the Hotel News Now home page.

Share.

Comments are closed.