Scottsdale, AZ – Arriba Capital announces that it recently closed a $40,500,000 ground-up construction loan for two adjacent hotel properties in Woodland, CA. The 3-year loan was sized to 80% LTC. The properties located in a prominent redevelopment area of Woodland are in close proximity to I-5, numerous distribution centers, and 10 miles west of Sacramento International Airport.
The Home2 Suites by Hilton will be a 4-story, 95-room, extended stay offering while the Courtyard by Marriott will be 5-stories, 109 rooms, and select service.
Ryan Bosch, Hospitality Debt & Structured Finance at Arriba stated, “The sponsorship are experienced hotel developers, owners, and operators with a deep track record in Northern California. Getting to eighty percent leverage in today’s challenging capital markets environment is a testament to the strength of the project, sponsorship, and execution by the team here at Arriba. Looking forward to these projects successfully competing against the outdated competitors in the region.”
Arriba Capital (http://www.arribacapital.com/) is a Scottsdale, AZ-based real estate investment banking firm that specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing as well as joint-venture equity transactions. The company is recognized for its expertise in hospitably debt & structured finance while providing capital for all product types including hospitality, retail, office, industrial, and multifamily properties