Blackstone Secures $950M Refinancing Deal For Hotel Del Coronado In San Diego

Blackstone is closing in on a $950 million refinancing deal for its renowned Hotel del Coronado in San Diego. The loan, led by Barclays, is a floating-rate, interest-only loan and is expected to close later this month. The loan amount will replace the existing debt and value the property at approximately $1.6 billion. The Hotel del Coronado is located at 1500 Orange Ave, Coronado, CA 92118, USA and consists of 757 keys.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $950,000,000
• Loan Type: Refinance
• Loan Terms: Floating-rate, interest-only loan

Barclays is leading the refinancing deal for Blackstone's Hotel del Coronado. The property is a well-known landmark in San Diego and this refinancing will provide an opportunity for Blackstone to optimize their debt structure and potentially unlock additional value in the future.