Peachtree Group Provides $73M Construction Loan For Baxter Hotel Group's San Diego Property

The hotel located at 1357 Fifth Avenue in San Diego, with a total area of 138,208 square feet, was involved in a recent loan transaction.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $73,000,000
• Address: 1357 Fifth Avenue, San Diego
• Market: San Diego
• Asset Type: Hotel

The lender, Keegan Bisch from the Peachtree Group, provided a construction loan for the property. The loan terms included a structured debt capital stack, which consisted of PACE Financing and Senior Debt from the same lender. The total leverage represented approximately 70% Loan-to-Cost (LTC).

The landlord, Behram Baxter from the Baxter Hotel Group, was involved in the transaction. Additionally, the brokers Malcolm Davies and Zachary Streit from WAY Capital played a role in representing the parties involved in the deal.