CannonTTM Secures $55 Million Acquisition Loan From Bank Of America For Santa Barbara Hotel

The asset involved in this transaction is a hotel located at 800 Alvarado Place in Santa Barbara, CA, consisting of 92 keys. The loan amount secured for the acquisition is $55,000,000, facilitated through Bank of America.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $55,000,000
• Lender: Bank of America
• Landlord: Tyler Mateen, Justin Mateen & Garrett Cayton - CannonTTM
• Landlord's Representative: Jonathan Aghravi & Noam Katz - JBA Equities
• Market: Santa Barbara, CA

This transaction highlights the involvement of key individuals representing the landlord, including Jonathan Aghravi and Noam Katz from JBA Equities, who facilitated the loan agreement with Bank of America for the acquisition of the hotel property.