Hardage Hospitality has secured $88.5 million to refinance a 288-room waterfront hotel with dual Marriott brands in Marina del Rey.
The San Diego-based hotel developer secured the floating-rate loan to refinance a maturing mortgage tied to the Courtyard & Residence Inn Marina Del Rey at 4360 Via Marina, the Commercial Observer reported, citing an unidentified source.
CBRE represented Hardage in the loan provided by Beach Point Capital Management, based in Santa Monica. Terms of the deal were not disclosed.
Hardage built the dual-branded Marriott in 2021, according to the Observer. It’s not clear what lender had originated its prior loan.
The waterfront hotel includes a Brizo Bar and Restaurant, Sam’s Coffee Call and a terrace pool deck and fitness center. Rooms at the Residence Inn start at $284 a night, while Courtyard rooms start at $264, according to their websites.
The company has developed, managed or franchised 25 hotels across 13 states, including Chase Suite Hotel Brea Fullerton, in Brea.
— Dana Bartholomew
Read more
Residential
Los Angeles
LaTerra beats appeal against apartment project in Marina Del Rey
Development
Los Angeles
Relevant Group moves from Hollywood hotels to DTLA multifamily
Commercial
Los Angeles
Chateau and SAICP allegedly default on 233-key hotel in Arcadia