The hotel occupies nearly 3.6 acres and includes a 105-seat restaurant called the Palm Court, as well as a 206-seat West Coast Club, a deli, a gift shop, more than 16,132 sf of meeting space, an outdoor swimming pool and a spa, a two-level concrete parking garage, a health club including a tented function area, a wedding gazebo and a sports court.
In a separate financing of a 40,000-sf industrial and office complex in Montclair, the Irvine office of Johnson Capital reports that the borrower secured $2.2 million in permanent financing through Nomura Credit & Capital for four separate single-story buildings that were recently rehabilitated by the locally based borrower and are more than 95% occupied. Johnson Capital's Irvine office arranged the financing, which offered favorable 10-year fixed rate terms, allowing the building owner to retire its existing higher rate debt.
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