Blackstone Group Refinances Hotel Del Coronado San Diego

blackstone group refinances hotel del coronado san diego

blackstone group refinances hotel del coronado san diego

Unable to sell off Hotel del Coronado last year, owner Blackstone Group has instead decided to refinance the iconic property. According to the industry news publication National Mortgage News, New York-based Blackstone recently obtained $712 million in new debt by tapping the commercial mortgage bond market for a refinancing of the historic 757-room hotel.

Blackstone Group has called off the sale of San Diego's Hotel del Coronado to Anbang Insurance Group, part of the $6.5-bln Strategic Hotels & Resorts deal.

The Blackstone Group venture that owns the Hotel del Coronado in San Diego is said to be looking to refinance the $425 million debt against the resort, according to a report in Bloomberg.. The group, which includes Strategic Hotels & Resorts, KSL Resorts and Kohlberg Kravis Roberts, is said to be exploring borrowing $450 million against the 757-room property in an effort to take advantage of ...

Blackstone Group LP, the largest U.S. hotel owner, is in talks to borrow about $450 million to refinance debt on San Diego’s historic Hotel del Coronado to take advantage of lower interest rates, a person with knowledge of the plans said.. Blackstone’s real estate unit holds 60 percent of a joint venture that took ownership of the hotel in a February 2011 recapitalization, for which ...

Blackstone is refinancing San Diego’s iconic Hotel del Coronado via the CMBS market. The private equity firm initially envisioned offloading the 130-year property last year, but instead obtained $712 million in new debt to pay off $703 million it took out on the asset last year. The New York based investor took a 60% stake …

Private equity firm Blackstone Group has taken a majority stake in San Diego's historic Hotel del Coronado in return for a cash infusion that that will reduce the hotel's debt load by about one-third.

Strategic Hotels & Resorts Inc., which owns 17 high-end U.S. hospitality properties including Hotel Del Coronado, has agreed to be acquired by affiliates of New York-based Blackstone Group, in a deal valued at approximately $6 billion. The transaction, set to close in the first quarter of 2016 ...

Blackstone Group, the world's largest alternative asset manager, will sell its remaining 63.6 percent stake in San Diego's landmark Hotel del Coronado for $210 million. And at 757 rooms, that ...

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Play Pause Hotel del Coronado. Discover the seaside charm of the iconic Hotel del Coronado, Curio Collection by Hilton, located at the Pacific’s edge on Coronado Island and just minutes from Downtown San Diego.

Blackstone Group Refinances Hotel Del Coronado San Diego Pictures