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Gustin Property Group Lands Hotel Construction Financing

NAPA, CA- Hall Financial Group provides $10.95 million for construction of a 106-room boutique hotel and free-standing restaurant. The development has 300 feet of frontage on the Napa River.

By Brian K. Miller | Updated on December 19, 2002

NAPA, CA-Gustin Property Group has secured $10.95 million in construction financing for a boutique hotel and restaurant development here that has 300 feet of frontage on the Napa River.

The 106-room River Terrace Inn will rise at 780 Randean Wy. The free-standing restaurant will be built on an adjacent parcel of land. The hotel is slated to open in September 2003. The designer is TWM Architects of San Rafael. Andrews & Thornley of Napa is the general contractor.

Gustin is a real estate development company based in Albuquerque that has completed over 30 hotel, residential and office development projects in nine states and Canada. The first lien, provided by Hall Financial Group, has an interest rate that floats based on LIBOR, with a minimum rate starting at 10%.

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