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12/21/15
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HFF has arranged a $29 mil in refi money for the Hilton Garden Inn Carlsbad Beach, a 161-room, Hilton-branded, oceanfront hotel in the coastal Southern California community of Carlsbad. Hilton Garden Inn Carlsbad Beach is an award-winning hotel that was once named Hilton Garden Inn Hotel of the Year and, in 2014, received the TripAdvisor Certificate of Excellence Award.
Built in 2000, the three-story hotel features a swimming pool, whirlpool, fitness facility, business center, 12.5k sf of indoor and outdoor meeting and event space, bicycle rentals, a 24-hour convenience pantry and the Carlsbad Beach Bistro restaurant.
Situated on 4.78 acres at 6450 Carlsbad Blvd, the property is on the Carlsbad Coast approximately 35 miles north of downtown San Diego. The property is proximate to area attractions including LEGOLAND, Carlsbad Flower Fields and SEA LIFE Aquarium, and numerous corporate headquarters, including Calloway Golf, TaylorMade and Life Technologies.
HFF’s Tim Wright and Scott Hall arranged the seven-year, fixed-rate loan through a major life insurance company. Proceeds are being used by the borrower, Wave Crest Resorts III LLC, to refinance the hotel.
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