HFF Announces $35m Financing for Development of Dual-Branded Los Angeles-Area Hotel

San Diego, CA. February 12, 2018 -

HFF announces the $35 million in construction financing for the development of a dual-branded hotel comprising a 129-room Courtyard Marriott and a 96-room TownePlace Suites in the Los Angeles-area community of Agoura Hills, California.

Working on behalf of the developer, Huntington Hotel Group, the HFF team placed the 60-month loan with Umpqua Bank. 

The dual-branded hotel will be developed on a vacant 5.5-acre site located at 29505 and 29515 Agoura Road in Agoura Hills, a Los Angeles County community approximately 30 miles northwest of downtown Los Angeles in the eastern Conejo Valley between the Simi Hills and the Santa Monica Mountains.  The Courtyard Marriott and TownePlace Suites will be near numerous leisure and corporate demand generators, including IBM; TouchCommerce; Zebra Technologies Corporation; Pepperdine University and Santa Monica Mountains National Recreation Area.  Once constructed, all 225 rooms will reside in one three-story, wood-framed building that will feature three separate lounge areas; a business library; fitness room; large patio with outdoor pool, barbeque area and fire pit; Courtyard lobby Bistro, which will be available to all guests and serve breakfast and dinner; complimentary breakfast area; and four meeting rooms.

The HFF team representing the borrower included senior managing director Timothy Wright and real estate analyst Aaron Lapping. 

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

About Huntington Hotel Group

Huntington Hotel Group was founded in 1998 by Kevin Keefer and Brent Andrus with the vision of developing and managing premium brand select service hotels in markets with high barriers to entry.  Huntington Hotel Group has developed 17 hotels over the past 18 years and operates a portfolio of 15 select service hotels with a total of over 2,400 rooms located in California, Maryland, Oregon, Texas, Utah and Virginia.  Visit http://www.huntingtonhotelgroup.comfor more information.

About HFF

HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information please visit hfflp.comor follow HFF on Twitter @HFF.

Media Contact:

Timothy Wright
CA Lic. #00947194
HFF Senior Managing Director
858-552-7690
twright@hfflp.com  

Kimberley Steele
HFF Digital Content/Public Relations Specialist
713-852-3420
ksteele@hfflp.com

About

Related News

Coming up in March 2018...

Human Resources: Value Creation

Businesses must evolve to stay competitive and this is also true of employment positions within those organizations. In the hotel industry, for example, the role that HR professionals perform continues to broaden and expand. Today, they are generally responsible for five key areas - government compliance; payroll and benefits; employee acquisition and retention; training and development; and organizational structure and culture. In this enlarged capacity, HR professionals are no longer seen as part of an administrative cost center, but rather as a member of the leadership team that creates strategic value within their organization. HR professionals help to define company policies and plans; enact and enforce systems of accountability; and utilize definable metrics to measure and justify outcomes. Of course, there are always new issues for HR professionals to address. Though seemingly safe for the moment, will the Affordable Care Act ultimately be repealed and replaced and, if so, what will the ramifications be? There are issues pertaining to Millennials in the workforce and women in leadership roles, as well as determining the appropriate use of social media within the organization. There are new onboarding processes and e-learning training platforms to evaluate, in addition to keeping abreast of political issues like the minimum wage hike movement, or the re-evaluation of overtime rules. Finally, there are genuine immigration and deportation issues that affect HR professionals, especially if they are located in Dreamer Cities, or employ a workforce that could be adversely impacted by federal government policies. The March Hotel Business Review will take a look at some of the issues, strategies and techniques that HR professionals are employing to create and sustain value in their organization.