November 30, 2018 Comments Off on $115M Construction Loan Arranged for Anaheim Hotel Development Views: 3703 California News, Orange County

$115M Construction Loan Arranged for Anaheim Hotel Development

George Smith Partners secured a $115 million non-recourse senior construction loan for the ground-up development of a 326-key, four-star Radisson Blu hotel in Anaheim, CA. The 12-story hotel, located at 1601 S. Anaheim Blvd., is situated within the Disneyland/Anaheim Convention Center submarket, and will be one of the few four-star properties outside of the Disneyland Park.

The new development will feature an innovative, modern design with a focus on family-friendly amenities. Nearly one-half of the guest rooms will offer bunk beds. Also planned are a ground-floor swimming pool with food and beverage offerings, as well as a rooftop pool deck.

George Smith Partners’ Malcolm Davies and Zachary Streit secured the loan on behalf of BPM Real Estate Group. The loan was provided by 3650 REIT.

Streit says, “While there are nearly 300 Radisson Blu luxury hotels worldwide, the Anaheim Radisson Blu will be only the 4th of its kind in the United States.”

Construction will commence on November 30, with completion expected by late 2020.

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