Berkadia Secures $61 Million Refinance For Casa Monica Resort & Spa In St. Augustine

The property asset involved in the transaction is a hotel located at 95 Cordova Street in St. Augustine, specifically the Casa Monica Resort & Spa, which is part of the Autograph Collection. The transaction includes a significant refinance loan of $61,000,000 aimed at supporting renovations and maintaining operational stability.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $61,000,000
• Loan Type: Refinance
• Landlord: Richard Kessler - The Kessler Collection
• Brokers: Jennifer Dakin, Lindsey deButts, Katelyn Reynolds, & Jose Ison Cassab - Berkadia

The refinancing was arranged by Berkadia, which included a renovation holdback and a completion guarantee, highlighting the strategic support for luxury hotels in historic destinations like St. Augustine.