J.D. Blashaw Of MetroGroup Realty Finance Provides $13.9M Loan To Convert San Mateo Hotel

The property is located at 480 North Bayshore Boulevard in the San Mateo market, representing a hotel with 99 keys. The financing for this property involved a loan amount of $13,900,000 from MetroGroup Realty Finance, specifically structured as a five-year floating-rate senior loan with interest-only terms during construction.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $13,900,000
• Lender: J.D. Blashaw - MetroGroup Realty Finance
• Loan Terms: five-year floating-rate senior loan features interest-only
• Note: The loan supports the conversion of a Best Western in San Mateo to a Hilton Home 2 Suites, including initial bridge funding and additional branding support.

J.D. Blashaw represented the lender, MetroGroup Realty Finance, in facilitating the financial aspects of this transaction. The loan structure includes a two-year permanent option to assist with the client's development and adherence to brand standards.