Monday, June 19, 2017

Continental Partners Secures $20.5 Million in Financing for Sheraton Grove Hotel Near Disneyland

Sheraton Garden Grove-Anaheim South Hotel, Garden Grove, CA

Mitch Paskover
GARDEN GROVE, Calif. (June 19, 2017) – Commercial real estate investment banking firm Continental Partners has secured $20.5 million in fixed-rate, non-recourse refinancing for the Sheraton Garden Grove-Anaheim South Hotel, a 285-room hotel near the Disneyland theme park. 

The financing was arranged by Continental Partners President Mitch Paskover.

“The Orange County hotel sector is experiencing remarkable growth and outperforming other U.S. markets,” notes Paskover. “Driven by a thriving tourism industry, the region’s hotel market continues to demonstrate annual RevPAR growth and occupancy rates that are above national averages. 

"Based on these fundamentals, there is strong investment activity and sustained lender appetite for quality hotels with high average daily rates throughout Orange County.”

According to a report by CBRE, average daily rates in the Orange County market are projected to increase 3.5 percent in 2017. Market occupancies average 77 percent, far outpacing the national average of 65.4 percent.

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