The owner of the SpringHill Suites by Marriott San Diego Oceanside/Downtown has secured $20.5 million to refinance the property. The loan has a five-year term with a and was funded by Umpqua Bank.

SpringHill Suites by Marriott San Diego Oceanside/Downtown has 149 rooms and is LEED-Silver certified. It was developed in 2014 and features a rooftop lounge along with a pool and spa. The loan proceeds will be used to retire an existing loan and to return a portion of borrower equity.

The JLL capital markets team representing the borrower was led by senior managing director Aldon Cole, director Olga Walsh and associate Aaron Lapping.

 

 

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.