ROBERTDOUGLAS ADVISES PROSPERA HOTELS ON STRATEGIC REFINANCING OF THE HYATT PLACE AT ANAHEIM RESORT/CONVENTION CENTER
RobertDouglas advised Prospera Hotels in securing a $35 million non-recourse senior mortgage for the refinancing of the Hyatt Place at Anaheim Resort/Convention Center in Anaheim, California. Prospera Hotels is a privately-owned hotel investment, development and management company with a strong presence in the Anaheim market. The fifteen-year, fixed-rate financing was provided by a finance company originating fixed rate loans through a separately managed account with a large domestic life insurance company.
The select-service Hyatt Place hotel features 178 guestrooms and nearly 1,200 square feet of meeting space. The property is located in the Anaheim Resort market within walking distance to the recently renovated Anaheim Convention Center and Disneyland Resort, which will be debuting “Star Wars: Galaxy’s Edge” in the summer of 2019.
“This was a highly efficient execution with the balance sheet lender providing terms tailored to the borrower’s needs. As a relatively new property with robust in-place cash flows in one of Southern California’s most desirable lodging markets, the financing opportunity drew strong interest,” noted Stephen O’Connor, a Principal and Managing Director of RobertDouglas. “Our team sourced a lender who delivered flexibility at great pricing with a smooth underwriting and closing process,” remarked Rob Stiles, a Principal and Managing Director of RobertDouglas.
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles, and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort, and gaming properties throughout North America. Founded by two of the hotel industry’s preeminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.