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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