Pacifica Hotels has received a nine-figure refinancing package for a portfolio of seven Southern California hotels. Goldman Sachs supplied a five-year, fixed-rate commercial mortgage-backed securities loan for six of the hotels, while Peachtree Group provided a three-year loan secured by the Belamar Hotel Manhattan Beach, Commercial Observer and PERE Credit reported. Sonnenbick-Eichner Company arranged the $126.1 million financing deal. The portfolio’s seven seaside Southern California hotels totals 601 rooms. The properties are located in San Diego, Pismo Beach, Venice and Manhattan Beach. The financing package includes a mix of three- and five-year fixed-rate non-recourse loans. The hotels benefiting from the […]
This article originally appeared on The Real Deal. Click here to read the full story.
