HFF Announces $35m Financing for Development of Dual-Branded Los Angeles-Area Hotel
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.com for more information.
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.com or follow HFF on Twitter @HFF.
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