High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + San Diego  + Finance  | 

Berkadia Arranges $92M Refi on Carlsbad Hotels

Berkadia arranged the refinancing of two hotels: Cape Rey Carlsbad Beach, a Hilton Resort & Spa; and Hilton Garden Inn Carlsbad Beach, both located in Carlsbad. Managing director Scott Hall and senior director Aaron Lapping of Berkadia Hotels & Hospitality secured the $92.5-million loan through MetLife Investment Management on behalf of the borrower, California-based Wave Crest Hotels and Resorts.

The five-year loan featured a half-term interest-only provision and a 65% loan-to-value ratio.

The 215-key Cape Rey Carlsbad Beach, a AAA 4-Diamond resort, and the 161-key Hilton Garden Inn Carlsbad Beach benefit from strong positioning within coastal North County San Diego. Both hotels provide access to Carlsbad’s beaches, shopping, golf, Legoland, the Flower Fields and other local attractions.

“Wave Crest’s strong stewardship has fortified these hotels as premier destinations along Carlsbad’s highly desirable coastline,” said Hall.

Read More News Stories About: Berkadia
Connect

Inside The Story

Berkadia's Hall

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
New call-to-action
New call-to-action
New call-to-action