Download - HALL STRUCTURED FINANCE CLOSES $42M CONSTRUCTION LOAN TO BUILD TWO CAMBRIA … · 2019. 3. 1. · Cambria Hotels & Suites entered the market as an all-suite, new construction hotel

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FORIMMEDIATERELEASEHALLSTRUCTUREDFINANCECLOSES$42MCONSTRUCTIONLOANTOBUILDTWOCAMBRIASUITES

NewluxuryhotelstobeconstructedinNapaValleyandSonomaCounty,California

DALLAS–August16,2017–HALLStructuredFinance(HSF)announcedtodaythatthecompanyhasclosedtwonewfirstlienloanstotaling$42milliontofinancetheconstructionoftwoCambriaSuitesinCalifornia–oneinSonomaCountyandoneinNapaValley.TheprojectdevelopersareNewportBeach,California–basedDavidandAndrewWoodofStratusDevelopmentPartnersLLC(SDP),andconstructionisexpectedtobegininSeptember2017.“ThestrengthoftourismintheNapaValleyandSonomawineindustrieswillbeamajordemandgeneratorforthesehotels,”saidMikeJaynes,presidentofHALLStructuredFinance.“Thereareveryfewsitesleftintheregionthatareentitledforhoteldevelopment,andweareconfidentthattheseCambriaproductswillbeverysuccessfulinthearea’scurrenthotelmarket.”HSFarrangeda$19.8MfirstlienconstructionloantodeveloptheCambriaSuitesinNapa,a90-roomhotelcentrallylocatedat320SoscolAvenue,just1.5milessouthofDowntownNapa.Projectedtoopenin2019,thefour-storyhotelwillfeaturearestaurant,outdoorpool,fitnesscenter,guestlaundryfacilities,businesscenter,sundryshop,andapproximately2,012squarefeetofmeetingspace.FortheCambriaSonoma,HSFisprovidinga$22.1Mfirstlienconstructionloanforthedevelopment,whichwillfeature135keysandislocatedat5870LabathAvenue,RohnertPark,nexttoseveralwineriesandwithinafewmilesfromSonomaStateUniversityandtheGratonResort&Casino.TheSonomaCambriaHotelwillhavethesamebuild,aesthetics,appealandamenitiesastheNapaCambriaandisalsoprojectedtoopenin2019.“Securingconstructionfinancingintoday’sregulatedbankingclimatecanbedifficulttosaytheleast.HSFworkedwithusdiligentlyeverystepofthewaytofindacapitalsolutionthatworkedforouruniqueneedsandtheywentaboveandbeyondtosecurebothloanssothatourteamcouldbeginconstruction,”saidDavidWood,theprojectdeveloperwithSDP.ScottSilver,chairmanofHospitalityFundingInc.andSilver&AssociatesLLC,brokeredtheloans.

CambriaHotels&Suitesenteredthemarketasanall-suite,newconstructionhoteldesignin2007.Today,therearecurrently30CambriapropertiesopenacrosstheU.S.withover60moreunderdevelopmentordealsexecutedintheU.S.andCanada.AboutHALLStructuredFinanceHALLStructuredFinanceisanentrepreneurial,value-adddirectprivatelendertotherealestateindustry.Wespecializeinprovidingcapitalforgroundupconstruction,adaptivereuse,andmajorassetrepositioningandrenovationsforcommercialrealestateprojectsthroughouttheU.S.TheHALLStructuredFinancelendingprogramisdesignedtoproviderealestateowners,operatorsanddeveloperswithanalternativetobankfinancing,andisorientedtobearesourcetoprojectsthatmaybeunderservedbytheinstitutionalcapitalmarkets.Formoreinformation,visithallstructuredfinance.com.

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