LOS ANGELES—Those who follow @GlobeStcom on Twitterand @GlobeStLIVE mayhave seen a post teasing the announcement, but GlobeSt.com haslearned that a senior $52.74-million construction loan has beenplaced for a mid and luxury dual-branded high rise hotel. The332-room hotel is located in “a primary California” market.
While GlobeSt.com did learn that locally based GeorgeSmith Partners placed the loan, the firm tells GlobeSt.comthat due to confidentiality, they cannot speak further on the dealat this time or provide further information.
The firm does say that the hotel will consist of 188 luxuryrooms and 148 mid-level rooms and had a floating over LIBOR with a5.35% floor. The 51.5% of cost loan carries a 3.5-year termallowing time for construction and stabilization prior to the needfor options.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
