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California  + Hospitality  | 

Newmark Places $61M Mortgage for Monterey’s Cannery Row Property

San Francisco-based Newmark arranged $61 million in fixed-rate financing for The Monterey Plaza Hotel & Spa in Monterey, CA.  The 290-room, full-service hotel, situated on seven contiguous ground leased parcels, is a premier establishment on Monterey’s famed Cannery Row.

The operator, San Mateo, CA-based Woodside Hotels, worked closely with Newmark to arrange the new first deed of trust, which was used to refinance existing debt, cover closing costs, and fund scheduled capital improvements. The non-recourse financing solution was arranged from one of Newmark’s New York-based correspondent life insurance companies, which Newmark will service.

The independent commercial mortgage banking firm commemorated the loan closing at its 25th anniversary gathering at the Monterey property. Since founding in 1991, Newmark has placed more than $30 billion of CRE mortgages, encompassing 3,500 loans.

Newmark’s Robert Slatt, Jeff Wilcox, and Charlie Kokernak arranged the financing.

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
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