Avatar Provides Financing to Overhaul Sonoma Coast Hotel

Avatar Financial Group LLC, a Seattle-based national bridge lender for commercial real estate, provided $6.4 million in financing for the Bodega Coast Inn and Suites in Bodega Bay, on Northern California’s Sonoma Coast. The bridge loan carries a 2.5-year term. The sponsor, a repeat Avatar client, plans to invest additional equity to renovate and reposition the limited-service hotel into one of the premier destinations in Bodega Bay, a popular weekend getaway for Northern California residents.

“The Bodega Coast Inn & Suites is well located on Bodega Harbor, but like many boutique assets, it could use updating to help it truly shine,” said Avatar president T.R. Hazelrigg IV. “Our borrower is an experienced investor that’s recently wrapped up a similar overhaul on a San Diego boutique hotel. We look forward to seeing a repeat of that success with this property.”

Situated on 2.15 acres at 521 S. Hwy. 1, Bodega Coast Inn & Suites spans six three-story buildings housing 44 guestrooms, all with a view of the Bodega Bay, as well as a main building with a hotel lobby, dining and meeting space. Built in 1986, the 31,212-square-foot boutique hotel also features a breakfast room, saltwater hot tub, fireplaces in some rooms and 2,100 square feet of event space with Pacific Ocean views.