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20

Presidio Lands $62M Bridge Loan for Napa Valley Hotel

By Tony Seruga

CBRE Hotels’ debt and structured finance team secured five-year financing for the resort, which opened this summer after renovation of an historic property and construction of six new buildings.

Presidio Cos. has received a $62 million loan for Las Alcobas Napa Valley, a new luxury hotel in St. Helena, Calif.

CBRE Hotels arranged the financing. Marc Sallette and Olga Lepow of CBRE Hotels’ debt & structured finance team in Houston secured a five-year, floating-rate, non-recourse bridge loan at 65 percent LTV with Goldman Sachs Bank USA and an affiliate of Ohana Real Estate Investors. The money replaces the construction loan and subordinate financing for the hotel with less than 90 days of operating history…

Presidio Lands $62M Bridge Loan for Napa Valley Hotel

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