Regions West | Orange County
Aug 29, 2008
While many of the details are being kept mum, permanent financing to the tune of approximately $21 million has been put in place for the 25-acre Hyatt Regency Hotel property in Newport Beach, Calif. Commercial mortgage banking firm Newmark Realty Capital Inc. arranged the loan on behalf of a life insurance company; the arrangement took place in January with a forward commitment. In addition to 403 guestrooms, the property features 26,000 square feet of meeting space, a tennis club and a golf course.
While many of the details are being kept mum, permanent financing to the tune of approximately $21 million has been put in place for the 25-acre Hyatt Regency Hotel property in Newport Beach, Calif. Commercial mortgage banking firm Newmark Realty Capital Inc. arranged the loan on behalf of a life insurance company; the arrangement took place in January with a forward commitment. In addition to 403 guestrooms, the property features 26,000 square feet of meeting space, a tennis club and a golf course.
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