RobertDouglas Advises Chartres Lodging on Acquisition and Revelopment Financing of Dr. Wilkinson's Hot Springs Resort in Calistoga, Napa County, California
RobertDouglas announced today that it advised The Chartres Lodging Group in securing acquisition and redevelopment financing for its purchase of Dr. Wilkinson's Hot Springs Resort in Downtown Calistoga, California. Chartres Lodging is a San Francisco-based hotel investment company with a deep expertise in executing value-add hotel transformations. The floating-rate financing was provided by a leading alternative credit manager focused on high-quality, floating-rate debt.
The well-known 42-room Dr. Wilkinson's Resort has been part of the fabric of the local community for several decades. The signature property features a renowned on-site spa featuring mud baths, mineral water baths, steam rooms, and massage treatment rooms, as well as multiple outdoor and indoor pools. The Property is located in the heart of Downtown Calistoga, in close proximity to all major local demand drivers as well as the new Four Seasons Napa Valley.
"The loan was structured to facilitate the acquisition and renovation of this landmark property along the main thoroughfare through the center of Calistoga," noted Rob Stiles, a Principal and Managing Director of RobertDouglas.
"The strength of the Calistoga hotel market helped us source a lender who delivered strong pricing and flexibility with regards to the redevelopment financing," remarked Julie Surago, an Associate of RobertDouglas.