BERKELEY, CA—HREC Investment Advisors’ Capital Market Group has arranged the $32.5 million acquisition financing for the 378-guestroom DoubleTree by Hilton located in Berkeley.
HREC arranged the 5-year floating rate loan. The buyer is an offshore investor.
Jake Stahler, SVP of HREC Group exclusively represented the buyer in the transaction.
The hotel is located on the waterfront in the Berkeley Marina, adjacent to Cesar Chavez park in a truly irreplaceable location.
“This transaction presented a unique set of challenges,” said Stahler, “The experience brought by HREC along with our clients vision were both instrumental in getting this deal closed.”