Pacifica Hotels Secures $126 Million Refinance Loan For Seven Coastal Hotels In Southern California

The transaction involves refinancing seven coastal Southern California hotels, totaling 601 keys across various locations including 707 Pacific Beach Drive, 100 Stimson Avenue, 327 Washington Boulevard, 737 Washington Boulevard, 2705 Spyglass Drive, 2351 Price Street, and 3501 N Sepulveda Boulevard. The new loans amount to $126,000,000, structured as three and five-year fixed-rate non-recourse loans.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $126,000,000
• Asset Locations: San Diego, Venice, Pismo Beach, and Manhattan Beach
• Loan Type: Refinance
• Loan Terms: three and five-year fixed-rate non-recourse
• Landlord: Matt Marquis - Pacifica Hotels
• Broker: Patrick Brown - Sonnenblick-Eichner Company

Pacifica Hotels secured the refinancing through a Wall Street investment bank and an insurance company, with Sonnenblick-Eichner Company facilitating the financing arrangements.