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8/16/17
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Presidio Companies has landed $62 mil in financing for Las Alcobas Napa Valley, a unique, 68-room luxury hotel in St. Helena. The property is at 1915 Main St, in an irreplaceable location immediately fronting the 200-acre Beringer vineyard in Napa Valley.
The hotel features 68 guestrooms with outdoor terraces and vineyard views, 3.9k sf of meeting space, an outdoor heated swimming pool, and a 3.6k sf full-service spa.
Room with a view... of a Napa Valley vineyard |
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The property recently opened after a complete renovation and repositioning of its historical building, Acacia House, and the construction of six new buildings to form the luxury resort in the exclusive city of St. Helena in Napa County.
The Acacia House, constructed as a private residence in 1907 and now serving as the hotel’s restaurant, is home to celebrity chef Chris Cosentino and boasts a Napa-inspired menu. The hotel’s interiors were designed by award winning international firm, Yabu Pushelberg, while the hotel’s design and direction was guided by Las Alcobas Hotels & Resorts and is affiliated with Marriott’s Luxury Collection.
Marc Sallette and Olga Lepow of CBRE Hotels’ Debt & Structured Finance team in Houston secured the loan on behalf of Presidio Companies. The five-year, floating-rate, non-recourse bridge loan at 65% LTV was arranged to replace the construction loan and subordinate financing for the luxury hotel with less than 90 days of operating history. Goldman Sachs Bank USA and an affiliate of Ohana Real Estate Investors served as the lenders.
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