Eight Form Secures $13.54M Acquisition Loan For Palihouse Santa Barbara Hotel

The property asset involved is a hotel located at 915 Garden Street - Palihouse Santa Barbara, within the Santa Barbara market. The hotel comprises 24 keys and has a total square footage of 33,180. The acquisition loan amount for this transaction is $13,535,000, secured through an 80% LTC SBA 504 financing method.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $13,535,000
• Address: 915 Garden Street - Palihouse Santa Barbara
• Market: Santa Barbara
• Asset Type: Hotel
• Keys: 24
• Square Footage: 33,180
• Landlord: Eight Form
• Brokers: Marc Schillinger, Keaton Yellin & Tommy Adelson - JLL
• Loan Type: Acquisition
• Loan Terms: 80% LTC SBA 504 Financing

The key individuals involved in this transaction include Marc Schillinger, Keaton Yellin, and Tommy Adelson, who represented the parties as brokers through the agency JLL. The engagement between the landlord Eight Form and the brokers underscores the collaborative effort in facilitating this loan acquisition for the hotel property.