Cambria Hotel Calabasas Secures Construction Financing
The 125-room hotel project has secured $29 million in construction financing in excess of 65% of total project costs.
The developer of the Cambria Hotel Calabasas has secured construction financing for the 125-room hotel project. The $29 million loan is in excess of 65% of total project costs.
The deal was popular among lenders, with eight total offers the fund the project from international, regional and community banks, as well as debt funds. Ultimately, an international bank won the deal. Sonnenblick-Eichner Co. arranged the financing on behalf of the unnamed borrower.
Located on Las Virgenes Road in Calabasas, the hotel project will include meeting space, indoor/outdoor dining and a lobby bar, an outdoor pool, a business and fitness center, and surface parking for approximately 150 cars.