The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
January 16, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Embassy Suites by Hilton Anaheim – South Hotel Refinanced with $71 Mil Loan

12/07/18

Landmark Companies has obtained a $71 mil, fixed-rate loan for the 375-key Embassy Suites by Hilton Anaheim - South hotel. The hotel, at 11767 Harbor Blvd in Garden Grove, is located two blocks from Disneyland Resort.

Marc Sallette, Olga Lepow, Cara Leonard and Charlie Ryan with CBRE Hotel’s Debt & Structured Finance team facilitated the 10 year, fixed-rate interest-only loan to refinance the existing debt. The debt is split into a $56 mil senior mortgage to be securitized by Deutsche Bank, while Artemis Real Estate Partners provided the $15 mil junior mezzanine loan to be held on book.

Landmark developed the property in 2001, and the majority of the new mortgage is extinguishing existing loans. The owner is also undertaking a five-year, $16 mil renovation of the hotel in conjunction with the financing.

“We anticipated strong interest in this financing request due to both the quality of the brand and its proximity to several of SoCal’s iconic demand generators as well as the thriving hospitality market,” said Sallette.

Based on an upward revised outlook for the U.S. economy, U.S. hotels will likely see the 10th consecutive year of growth in 2019, according to the latest CBRE Hotels Americas Research. U.S. hotel occupancy is expected to rise to 66.2% next year, a fifth straight record level, according to the December 2018 edition of Hotel Horizons®. The growth in occupancy is primarily the result of a projected 2.1% increase in demand, more than enough to offset an estimated net increase in supply of 1.9% for the year.




Return to the previous page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media