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California  + Orange County  + Hospitality  | 

Financing Arranged for Garden Grove Hotel Development

CBRE arranged $15.5 million in financing for the development of a five-story extended-stay hotel in Garden Grove, CA. The site, located at 13650 Harbor Blvd., is under construction and set to be completed in late 2020. The Homes2Suites hotel will include 124 rooms.

The borrower was Garden Grove Hotel, LLC. The debt has an 18-month floating period during construction, and will subsequently convert into fixed interest rate loan for 36 months with two one-year extension options. The lending amount represents 73.5% of total project costs.

CBRE’s Bruce Francis, Dana Summers, Doug Birrell, Bob Ybarra, Shaun Moothart and David Stinebaugh facilitated the loan on behalf of the private buyer.

Birrell says, “This development will enable the sponsorship group to expand its hotel portfolio beyond the southeastern United States. We are excited to facilitate the group’s entrance into the dynamic Southern California hospitality sector.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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