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CBRE Arranges $43M in Financing for AC Marriott Hotel in Marin County
CBRE arranged $43 million in non-recourse construction financing for the development of an AC Marriott hotel, Marin County’s first major hotel to be built in more than two decades. The 140-room hotel will be located in downtown San Rafael, on the corner of Fifth Ave. and B St. Construction of the hotel will begin immediately, and it is anticipated to open Q3 2021.
CBRE’s John Nelson and David Kaim arranged the financing on behalf of the sponsorship, Marin County-based Monahan Parker, Inc. CSI Construction will serve as the general contractor. The floating-rate financing was provided by ACORE Capital.
“This asset is in one of the premier locations in Marin County, and as a result, garnered interest from numerous capital sources,” said Nelson.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development


