Stratus Development Partners Secures $16.34 Million Construction Loan For Hotel In Santa Barbara

The property asset involved is a hotel located at 926 Hutash Street in Santa Barbara, consisting of 105 keys. The loan amount for this construction financing is $16,340,000, and the loan terms extend over 30 years.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $16,340,000
• Market: Santa Barbara
• Lender: Aidan McLaughlin, Cory Jubran, Sarah Xu - Nuveen Green Capital
• Landlord: Stratus Development Partners
• Loan Type: Construction
• Loan Terms: 30 years

Notably, the financing arrangement includes C-PACE funds which are intended to support advanced building envelope, electrical, mechanical, and seismic systems enhancing guest comfort and operational efficiency. The deal team was led by Aidan McLaughlin.