MetLife Provides $92.5 Million Refinance Loan To Wave Crest Hotels And Resorts In Carlsbad

The transaction involves a hotel asset located at 1 Ponto Road and 6450 Carlsbad Boulevard in the Carlsbad market. The total square footage of the property is 336,880, with a loan amount of $92,500,000 secured by MetLife under a refinance loan type. The property has 376 keys and operates under the ownership of Wave Crest Hotels and Resorts.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $92,500,000
• Loan Type: Refinance
• Loan Terms: 5 Year Term / 65% LTV
• Lender: MetLife
• Landlord: Wave Crest Hotels and Resorts
• Brokers: Scott Hall & Aaron Lapping - Berkadia

The deal features prominent brokers Scott Hall and Aaron Lapping representing the transaction, facilitating the refinance process for the hotel asset in Carlsbad. Their involvement is key to the successful navigation of the financing arrangements for Wave Crest Hotels and Resorts.