RobertDouglas Advises Suncoast Properties on the Successful Refinancing of the Suncoast Park Hotel Anaheim, Tapestry Collection by Hilton
RobertDouglas announced today that it represented, as exclusive advisor, SunCoast Properties, Inc. in the $29.0 million first mortgage floating rate financing of the SunCoast Park Hotel Anaheim, Tapestry Collection by Hilton. Seven Hills Realty Trust (Nasdaq: SEVN), a real estate investment trust managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), provided financing.
The 174-key hotel was converted to Tapestry Collection in December 2019 and sits two blocks from Disneyland Resort's main gate. Located right off the Interstate-5, the hotel is easily accessible while also being located in the heart of Anaheim's entertainment and retail district. The hotel has a retro-surf, coastal Californian theme that features the Beachcomber restaurant, a marketplace lobby shop, outdoor infinity pool and whirlpool, and fitness center.
Stephen O'Connor, RobertDouglas Principal & Managing Director, commented, "We are encouraged by the number of competitive terms received for the new vintage, well-positioned hotel. This goes to show how in today's market environment, capital providers are increasingly seeking to provide debt to quality hospitality assets with strong Sponsorship."
Matthew Dower, RobertDouglas Managing Director, commented, "The successful refinancing of this amazing asset is attributable to its experienced Ownership, compelling cash flows and ability to over-penetrate its fair share of leisure demand to the market."