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HUNTINGTON BEACH, CA-Owners of the new Hyatt Regency Resort & Spa have obtained $85 million in floating-rate interim refinancing for the 517-room hotel, according to GMAC Commercial Mortgage Corp.

GMAC, headquartered in Horsham, PA, says its Hospitality Industry Division in Washington, DC arranged the financing for the hotel’s owners, PCH Beach Resort LLC. The hotel, which opened early this year, is a project of affiliates of Chicago-based Hyatt Corp. and Robert Mayer Corp.

The Hyatt occupies a waterfront site along Pacific Coast Highway, with access to the beach for guests via a pedestrian bridge. It is the largest hotel to open in Southern California since the 500-room Pechanga Hotel opened in 2002 at the Pechanga Casino in Temecula. The Hyatt sits on an elevated site between Long Beach and Newport Beach and features a pool, recreational area and number of other indoor and outdoor features. The property includes more than 110,000 sf of indoor and outdoor function space, 10,700-sf exhibit hall, 20,000-sf spa, three restaurants, two lounges and an on-site retail plaza.

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