Hardage Hospitality Lands $86M Refi of SoCal Hotel
Beach Point Capital provided the financing for the 288-room property in L.A.
By Nick Trombola November 22, 2024 2:16 pm
reprints
The owner of a dual-branded hotel along the coastal enclave of Marina Del Rey in Southern California has landed a hefty new refinancing deal, Commercial Observer has learned.
Hardage Hospitality, developer behind the Courtyard & Residence Inn Marina Del Rey at 4360 Via Marina, landed a $88.5 million floating-rate loan to refinance a maturing mortgage tied to the property, according to a person familiar with the proceedings. CBRE (CBRE) represented Hardage in the deal.
Beach Point Capital Management provided the debt in a deal that closed earlier this month. Other details of the package were not immediately available.
San Diego-based Hardage built the 288-key, dual-branded Marriott in 2021. Hardage has developed, managed or franchised 25 hotels across 13 states, including Chase Suite Hotel Brea Fullerton, in Brea, Calif.
Representatives for Hardage and Beach Point did not immediately respond to requests for comment.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
