CARLSBAD, CA—Working on behalf of the property owner, Holliday Fenoglio Fowler
has arranged a $29 million refinancing for the Hilton Garden Inn Carlsbad Beach, a 161-room oceanfront hotel.
HFF worked on behalf of the borrower, Wave Crest Resorts III, LLC, to secure the seven-year, fixed-rate loan through a major life insurance company. Proceeds are being used to refinance the hotel.
Hilton Garden Inn Carlsbad Beach is an award-winning hotel that was once named Hilton Garden Inn Hotel of the Year and, in 2014, received the TripAdvisor Certificate of Excellence Award. Built in 2000, the three-story hotel features a swimming pool, whirlpool, fitness facility, business
center, 12,536 square feet of indoor and outdoor meeting and event space, bicycle rentals, a 24-hour convenience pantry and the Carlsbad Beach Bistro restaurant.

Situated on 4.78 acres at 6450 Carlsbad Boulevard, the property is on the Carlsbad coast approximately 35 miles north of downtown San Diego.
The property is proximate to area attractions including LEGOLAND, Carlsbad Flower Fields and SEA LIFE Aquarium, and numerous corporate headquarters, including Calloway Golf, TaylorMade and Life Technologies.
The HFF debt placement team representing the borrower was led by senior managing director Tim Wright and managing director Scott Hall.
Wave Crest Hotels Resorts III, LLC evolved from Wave Crest Ltd., a development company that traces its origins to the 1980s and was responsible for the development of several residential and commercial buildings in North County San Diego, primarily in the hospitality and residential field.