$22.85 million construction financing arranged by HFF for Country Inn & Suites at the Disney Resort in Anaheim, California
SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $22.85 million in construction financing to build Country Inn & Suites at the Disney Resort, a 174-room, select-service hotel located near Disneyland® parks in Anaheim, California.
HFF worked on behalf of a development group led by SunCoast Properties, Inc. to secure the construction loan through a commercial bank. The hotel will be managed by Hospitality Management Corporation.
The new Country Inn & Suites hotel will be situated on a 2.6-acre site adjacent to the intersection of Disney Way and Clementine Street, just off Interstate 5 (San Diego Freeway) and within walking distance to Disneyland®, Disneyland California Adventure® and the Anaheim Convention Center. Additionally, the hotel will be approximately two miles from both the Honda Center, home of NHL team the Anaheim Ducks, and Angels Stadium, where the Los Angeles Angels of Anaheim MLB team plays. The five-story hotel will feature a resort-style pool and spa amenities, which will be heated by a state-of-the-art solar heating system. The hotel also will feature a fitness center, lobby bar, library retreat, media center and a solar power generating installation on its roof. The 110,000-square-foot hotel is scheduled to open in late 2016.
The HFF debt placement team representing the borrower was led by senior managing director Aldon Cole.
According to HFF, the success of the financing speaks to the quality location and capital’s willingness to provide construction financing to qualified sponsors in strong markets.
About SunCoast Properties, Inc.
SunCoast Properties, Inc. (SunCoast) is an Irvine-based owner and operator of commercial and hospitality properties situated primarily in Southern California. A full-service asset and property management firm, SunCoast’s portfolio includes more than one million square feet of commercial real estate. Its hospitality division operates three golf courses and maintains investments in other hotel assets. For more information, visit www.suncoast-properties.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.