David Nazarian Of Nimes Real Estate Secures $55M Loan For Hotel Amarano Burbank-Hollywood

The asset involved in this transaction is the Hotel Amarano Burbank-Hollywood, situated at 322 North Pass Avenue in Burbank. The hotel features 132 keys and has undergone renovations aimed at stabilization in the competitive market near major studios, including Warner Bros. and Disney Studios.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $55,000,000
• Lender: Keegan Bisch - Peachtree Group
• Landlord: David Nazarian - Nimes Real Estate
• Loan Terms: three-year, floating-rate with two 12-month extensions

Keegan Bisch represents Peachtree Group in providing the bridge financing while David Nazarian represents Nimes Real Estate in securing the funds for the property. This financial arrangement assists in the further stabilization and potential growth of the hotel in the Burbank area.