S.D. Malkin Properties has secured $265 million to refinance a hotel in Oceanside, California. The property includes refinance the 161-key Mission Pacific boutique hotel and The Seabird Resort, a 226-key full-service resort. The borrower secured a floating-rate, interest-only loan through ACORE Capital to payoff a construction loan that include mezzanine funds.

The new-construction hotel was completed in 2021. The property is on a 2.75-acre, two-block site on the ocean, offering guests ocean views and beach access. Hyatt operates the hotel, which features food and beverage options, interior meeting and function space, two pools with ocean views and access to the Oceanside Pier.

Senior managing director Timothy Wright and director Olga Walsh of the JLL Capital Markets team represented the borrower in the deal. According to Walsh, there was strong interest from capital providers for the deal due to the strong sponsorship, and as a result, the team was able to secure favorable terms. In addition, Jeremy Cohen, SVP of S.D. Malkin Properties, said the deal was a "validation of the bespoke hotels" in Oceanside.