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| Beach Retreat & Lodge, South Lake Tahoe, CA |
IRVINE, CA, July 30, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a
$13.33 million refinancing for the Beach
Retreat & Lodge, a 262-room, lakefront, boutique resort hotel located
in South Lake Tahoe, California.
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| Chip Sykes |
HFF worked on behalf of
the borrower’s sponsor, Urbana Realty Advisors, to secure the three-year,
floating-rate loan through CapitalSource, a division of Pacific Western
Bank. Loan proceeds will be used to
refinance existing debt and provide funds for additional minor capital
improvements.
Beach Retreat & Lodge
consists of five buildings and features 500 linear feet of beach front on Lake
Tahoe, the largest alpine lake in the U.S.
The hotel has an outdoor
heated pool, 24-hour fitness center, outdoor games and activities, full-sized
beach volleyball court and The Beach Club with cabanas, lounge chairs and menu
service on the beach.
Guests have two dining
options, The Tavern at Tahoe and The Boathouse, which is located on the longest
pier in Lake Tahoe. Additionally,
through an on-site marine operator, guests can rent boats, jet skis and
kayaks.
Renovated in 2012 through
2014, the hotel has completed upgrades to guest rooms, the lobby and restaurant
space; constructed an outdoor fire pit and patio area; and completed the Beach
Retreat Conference Center, which has in excess of 4,000 square feet of flexible
meeting and event space with on-site catering and state-of-the-art
technology.
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| James Fowler |
Situated on seven acres at
3411 South Lake Tahoe Boulevard, the hotel is approximately four miles from
Lake Tahoe Airport and is 189 miles east of San Francisco and 35 miles west of
Reno, Nevada.
The HFF debt placement
team representing the borrower was led by managing director James Fowler and
director Chip Sykes.
“Urbana had completed a
significant amount of the property renovation when we were asked to procure
debt financing,” Fowler said. “As a
result, the property is already seeing the benefit, with strong bookings
through the early summer months. These
two factors, along with a great lender in CapitalSource, helped facilitate a
smooth execution.”
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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