Sheraton Gateway Los Angeles
LOS ANGELES-The 802-room Sheraton Gateway Hotel Los Angeles has been refinanced for $47.5 million, and the Rancho Penasquitos Towne Center in San Diego for $25.6 million, in two separate transactions. Financing for both of the properties was arranged by HFF.
HFF worked on behalf of borrower SheLAX Hotel LLC, in the financing of the Sheraton Gateway, which is adjacent to Los Angeles International Airport, to secure the refinancing through a German bank. The managing member of SheLAX Hotel LLC is an institutional investment fund sub-advised by Long Wharf Real Estate Partners LLC. Long Wharf is a Boston-based private equity real estate investment manager formed in July 2011 following the spin-out of the Fidelity Real Estate Group from Fidelity Investments.
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