HFF Arranges $29M for Hilton Garden Inn Carlsbad

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.