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| Laurel Inn, Pacific Heights Neighborhood, San Francisco, CA |
SAN FRANCISCO, CA – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $10 million in refinancing
for the Laurel Inn, a 49-room,
boutique hotel located in the Pacific Heights neighborhood of San Francisco,
California.
HFF worked on behalf of
the borrower, Laurel SPE, LLC, to secure the 10-year, fixed-rate loan through
Boston Private Bank & Trust.
Loan
proceeds will be used to refinance an existing loan and for renovations of the
asset.
The Laurel Inn is located
at 444 Presidio Avenue in Pacific
Heights, a well-known, affluent neighborhood known for its large residences
in northern San Francisco and proximate to the Presidio, Golden State Park, the
Marina District and Fisherman’s Wharf.
Situated at the intersection of California and
Presidio Avenues, the hotel is within walking distance to the shops and
restaurants located on Fillmore Street.
The Laurel Inn features
Swank Cocktail Bar & Lounge; lemonade and cookies served in the lobby each
afternoon; all-day lobby coffee and tea service; a movie library; 24-hour
business center with both PC and Mac platforms and Blu-ray players in every
room.
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| Holden Lim |
The hotel has a
partnership with the San Francisco Jewish Community Center (JCC) directly
across the street to allow guests to use JCC fitness facilities.
The HFF debt placement
team representing the borrower was led by managing director Holden Lim and senior managing director
Bruce Ganong.
“Due to the high quality,
excellent location and strong performance of the Laurel Inn, numerous lenders
were very interested in lending on the hotel,” Lim said.
“The upcoming renovation will improve its
star rating and enhance the overall competitiveness of the hotel.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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