Gantry Arranges $8.7M Loan For Hard Rock Hotel Development In Long Beach | 100 East Ocean Boulevard | Andy Bratt, Amit Tyagi, Stefan Malmlund, Sean Kuang | Development Site | Loan

Summary

Loan

CALIFORNIA

Development Site

Amit Tyagi, Andy Bratt, Sean Kuang, and Stefan Malmlund of Gantry secured an acquisition loan of $8.7 million for the development site located at 100 East Ocean Boulevard in Long Beach. The loan, provided by an undisclosed lender, has interest-only terms at a fixed rate, with extension options.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $8,700,000
Property Address: 100 East Ocean Boulevard, Long Beach
Market: Long Beach

Gantry, represented by Amit Tyagi, Andy Bratt, Sean Kuang, and Stefan Malmlund, served as the brokers for the loan transaction. The financing supports Steinhauer Properties in their acquisition of the land for the development of a Hard Rock Hotel. Scheduled to begin construction in the summer of 2024, the hotel will feature 427 rooms, a rooftop bar, and various other amenities associated with the Hard Rock brand.

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5

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Details

Deal Summary

FINANCED

IMAGE: Andy Bratt, Sean Kuang, Amit Tyagi, Gregory Steinhauer & Stefan Malmlund DATE: 11/21/2023 ADDRESS: 100 East Ocean Boulevard MARKET: Long Beach ASSET TYPE: Development Site LANDLORD: Steinhauer Properties (@SteinhauerProperties) - Gregory Steinhauer BROKERS: Amit Tyagi, Andy Bratt, Sean Kuang & Stefan Malmlund (@SMalmlund) - Gantry (@Gantry_Inc) LOAN AMOUNT: $8,700,000 LOAN TYPE: Acquisition Loan LOAN TERMS: interest-only terms at a fixed rate with extension options NOTE: Gantry secured $8.7 million in early-phase financing for the land acquisition of a Hard Rock Hotel development in Long Beach at 100 E. Ocean Blvd., with construction scheduled to begin in summer 2024 and opening in spring 2027. The funding, arranged by Gantry for Steinhauer Properties, supports the project featuring 427 rooms, a rooftop bar, and other Hard Rock amenities.

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Address100 East Ocean Boulevard

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