American Riviera Bank Provides $13M Refinance Loan For Santa Barbara Hotel

Located at 109 Bath Street in Santa Barbara, CA, this hotel property encompasses a total area of 50,094 square feet. The property was involved in a recent closed transaction.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $13,000,000
• Date: 05/18/2023
• Lender: American Riviera Bank
• Landlord: Edward George
• Broker: Dean Ofer - Harborview Capital Partners
• Loan Type: Refinance
• Loan Terms: 5.67% rate, 7-year fixed, $2M in cash-out proceeds

The deal was facilitated by Dean Ofer, representing Harborview Capital Partners. American Riviera Bank provided a loan amount of $13,000,000 for the refinance. The loan terms include a 5.67% interest rate, a 7-year fixed period, and $2 million in cash-out proceeds.