Monday, November 26, 2012

HFF secures refinancing for historic Keating Hotel and Mercantile Building in San Diego’s Gaslamp Quarter



The Keating Hotel, Gaslamp District, San Diego, CA

SAN DIEGO, CA – HFF announced today that it has arranged refinancing for two historic buildings totaling 40,400 square feet in San Diego’s Gaslamp District: The Keating Hotel and The Mercantile Building.

Aldon Cole
Working exclusively on behalf of The Keating Hotel Group, HFF placed the 10-year, 4.7 percent, fixed-rate loan with Cantor Commercial Real Estate (CCRE).  Loan proceeds are paying off existing debt and repatriating equity.

                Originally built in 1890, The Keating Hotel is a luxury boutique hotel with 35 guest rooms that was renovated in 2007 and designed by Pininfarina, exclusive designers of Ferrari. 

Husayn Hasan
The property is home to Croce’s Restaurant and Jazz Bar, Patrick’s Gaslamp Pub, and a newly opened lounge with direct hotel access. 

The Mercantile Building is located adjacent to the hotel and is the flagship location for Brick & Mortar, a two-story restaurant and bar out of Los Angeles.  Both properties are located at the intersection of 5th Avenue and F Street in San Diego’s Gaslamp District.

The HFF team representing the borrower was led by managing director Aldon Cole and real estate analyst Husayn Hasan

Historic Gaslight Quarter, San Diego, CA
Since defining a new standard for premier-branded, high-end lifestyle/boutique hotels worldwide with the completion of the first Keating Hotel in San Diego,

The Keating Hotel Group has been formed by real estate entrepreneur business partners, Edward Kaen and Chad Harris to introduce, develop and operate an expansion of the exclusive Pininfarina-designed Keating Hotels in premier venues across the United States and Europe.

 Partnered in an exclusive relationship with Italian design powerhouse, Pininfarina, TKHG plans to development these ultra-serviced, exquisitely-appointed, Limited Edition Keating Hotels.  .

Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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