CSCDA Provides $103,545,000 Loan For Hyatt Regency Ontario Repositioning Project With National CORE

The property asset involved in this transaction is a hotel located at 700 N Haven Avenue in Ontario. It encompasses a total square footage of 233,000 and offers 295 keys for guests. The loan amount associated with this asset is $103,545,000, structured for repositioning purposes with terms including approximately 80% loan-to-cost at a fixed interest rate of 5.93%.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $103,545,000
• Address: 700 N Haven Avenue
• Market: Ontario
• Square Footage: 233,000
• Keys: 295
• Lender: CSCDA
• Landlord: National CORE
• Loan Type: Repositioning
• Loan Terms: ~80% LTC / 5.93% Fixed Rate
• Brokers: Keaton Yellin, Marc Schillinger, Ace Sudah, & Cameron Sepahi - JLL

JLL played a significant role in structuring the financing of this hotel development by combining tax-exempt Revenue Bonds and CPACE. This financing marks the Hyatt Regency Ontario project as one of the first hospitality projects financed using 501(c)(3) revenue bonds.