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St. Augustine Hotel Owner Scores $61M Refi
The Kessler Collection obtained a $61 million refinancing of Casa Monica Resort & Spa in St. Augustine, Florida. The bank loan structure includes a holdback and completion guarantee focused on renovation.
Located at 95 Cordova Street, the property is in the heart of the Historic District and is within walking distance of sites such as Flagler College, the Lightner Museum, Castillo de San Marcos, and St. George Street. Casa Monica Resort & Spa, Autograph Collection, features accommodations with a Moroccan theme with luxury amenities, such as a full-service resort spa and an on-site Mediterranean restaurant.
A Berkadia Hotels & Hospitality mortgage banking team including Jennifer Dakin, Lindsey deButts, Katelyn Reynolds, and Jose Ison Cassab secured the financing.
Berkadia and Kessler previously closed on a $100 million refinancing.
- ◦Financing
