San Diego Luxury Hotel Lands $85M Bridge Financing
- Oct 30, 2017
George Smith Partners: Real Estate Investment Banking secured an $85 million bridge loan for the San Diego Pendry Hotel.
Operating under Montage Hotels & Resorts’ jurisdiction, Pendry San Diego is a 317-key luxury hotel located at 550 J St. The San Diego Convention Center and Petco Park are both nearby.
“Pendry San Diego’s unique Gaslamp location and impeccable high-end restaurants and bars have resulted in thousands of hotel and non-hotel patrons enjoying its offerings,” said Malcom Davies, principal at GSP, in prepared remarks. Amenities include a rooftop pool, spa, six restaurants and bars and a 35,000-square-foot high-end meeting and event space.
GSP Vice President Evan Kinne and Assistant Vice President Alex Rossinsky joined Davies in arranging the financing. “While Pendry San Diego has only been open for eight months, our team at George Smith Partners—who originally secured the construction loan for the hotel—has now secured bridge financing to repay the construction facility,” said Davies in prepared remarks.
Image courtesy of George Smith Partners