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| W Hotel San Diego, San Diego, CA |
Los Angeles, CA – PCCP, LLC announced it has provided a
$31.2 million senior loan to refinance the W Hotel San Diego on behalf
of the ownership, a joint venture between Rockpoint Group and SCS Advisors.
The 258-room full-service hotel is well located in Downtown
San Diego with convenient access to the San Diego Convention Center, Gaslamp
district, Class A office buildings, and City and County offices.
“This new loan from PCCP provides flexible financing to
allow the ownership to complete its business plan and create additional value,”
said Mike Johnson, associate vice president with PCCP, LLC.
“Rockpoint
and SCS Advisors are top-tier real estate firms and PCCP is pleased to work
with them on this high-quality institutional asset.”
Built in 2002, the 17-story luxury hotel features the Kelvin
restaurant, The Rooftop Bar, 16,000 square feet of meeting space, and the lobby
lounge and bar.
For a complete copy
of the company’s news release, please contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
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