{"id":1004187688,"date":"2017-08-18T02:42:14","date_gmt":"2017-08-18T10:42:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004187688"},"modified":"2022-12-08T12:59:52","modified_gmt":"2022-12-08T20:59:52","slug":"presidio-snags-62m-bridge-loan-for-san-francisco-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\/","title":{"rendered":"Presidio Lands $62M Bridge Loan for Napa Valley Hotel"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Las<\/a>

Las Alcobas Napa Valley in Helena, Calif.,<\/p><\/div>\n

Presidio Cos. has received a $62 million loan for Las Alcobas Napa Valley, a new luxury hotel in St. Helena, Calif.<\/p>\n

CBRE Hotels<\/a> arranged the financing. Marc Sallette and Olga Lepow of CBRE Hotels\u2019 debt & structured finance team in Houston secured a five-year, floating-rate, non-recourse bridge loan at 65 percent LTV with Goldman Sachs Bank USA and an affiliate of Ohana Real Estate Investors. The money replaces the construction loan and subordinate financing for the hotel with less than 90 days of operating history.<\/p>\n

\u201cLenders appreciate the intrinsic value of the luxury boutique hotel real estate in Napa. Lenders were willing to compete for the opportunity to finance this specific asset given the unique attributes and competitive advantages<\/em>,\u201d Sallette told Commercial Property Executive. \u201cThe hotel was also developed at a cost significantly below its \u2018as-complete\u2019 value.\u201d<\/em><\/p>\n

Located at 1915 Main St., Las Alcobas Napa Valley features 68 guestrooms with outdoor terraces and vineyard views, 3,900 square feet of meeting space, an outdoor heated swimming pool and a 3,600-square-foot full-service spa.<\/p>\n

\u201cSt. Helena is a very upscale, exclusive and refined Napa Valley Destination<\/em>,\u201d Sallette said. \u201cHaving a 200-acre vineyard complex, including a historic mansion and wine making facilities next door, as well as being walking distance to Main St., coupled with the Culinary Institute of America complex, creates a set of unique experiences all within walking distance.\u201d<\/em><\/p>\n

Historic appeal, high-end finishes<\/h2>\n

Las Alcobas Napa Valley opened earlier this summer after a complete renovation and repositioning of its historical building, Acacia House, and the construction of six new buildings to form a luxury resort.<\/p>\n

The Acacia House was originally constructed as a private residence in 1907 and serves as the hotel\u2019s restaurant today, boasting celebrity chef Chris Cosentino and his Napa-inspired menu.<\/p>\n

According to Sallette, there are many things appealing about the hotel. It\u2019s a fabulous location, immediately adjacent to and overlooking the Beringer Vineyards; offers award-winning design and luxury finishes; huge guestrooms and outdoor terraces; a celebrity chef restaurant; incredible meeting space for high-end corporate and social events; a full-service spa; and is in walking distance to downtown St. Helena.<\/p>\n

Yabu Pushelberg designed the hotel\u2019s interiors, while\u00a0the hotel\u2019s design and direction was guided by Las Alcobas Hotels & Resorts and is affiliated with Marriott\u2019s Luxury Collection.<\/p>\n","protected":false},"excerpt":{"rendered":"

CBRE Hotels\u2019 debt and structured finance team secured five-year financing for the resort, which opened this summer after renovation of an historic property and construction of six new buildings.<\/p>\n","protected":false},"author":451,"featured_media":1004187692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21751,21742,1609,15],"tags":[32789,33435,33877,37277,37276],"class_list":["post-1004187688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-hotel","category-latest","category-san-francisco","category-west","tag-cbre","tag-goldman-sachs","tag-marriott","tag-ohana-real-estate-investors","tag-presidio"],"acf":[],"yoast_head":"\nPresidio Lands $62M Bridge Loan for Napa Valley Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Presidio Lands $62M Bridge Loan for Napa Valley Hotel\" \/>\n<meta property=\"og:description\" content=\"CBRE Hotels\u2019 debt and structured finance team secured five-year financing for the resort, which opened this summer after renovation of an historic property and construction of six new buildings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-18T10:42:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:59:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Las-Alcobas-Napa-Valley-in-Helena-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Presidio Lands $62M Bridge Loan for Napa Valley Hotel\",\"datePublished\":\"2017-08-18T10:42:14+00:00\",\"dateModified\":\"2022-12-08T20:59:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\\\/\"},\"wordCount\":403,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/08\\\/Las-Alcobas-Napa-Valley-in-Helena-Calif..jpg\",\"keywords\":[\"CBRE\",\"Goldman Sachs\",\"Marriott\",\"Ohana Real Estate Investors\",\"Presidio\"],\"articleSection\":[\"Featured\",\"Finance\",\"Hotel\",\"News\",\"San Francisco\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/presidio-snags-62m-bridge-loan-for-san-francisco-hotel\\\/\",\"name\":\"Presidio Lands $62M Bridge Loan for Napa Valley Hotel - 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