{"id":1004283035,"date":"2018-11-30T06:09:12","date_gmt":"2018-11-30T14:09:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004283035"},"modified":"2021-05-15T03:34:50","modified_gmt":"2021-05-15T11:34:50","slug":"115m-financing-for-anaheim-luxury-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/115m-financing-for-anaheim-luxury-hotel\/","title":{"rendered":"$115M Construction Loan for Anaheim Luxury Hotel"},"content":{"rendered":"
\"\"

Radisson Blu in Anaheim, Calif.<\/p><\/div>\n

BPM Real Estate Group has received a $115 million loan to build a 12-story, 326-key, four-star Radisson Blu hotel in Anaheim, Calif. When finished, the property will be the tallest in the Disneyland area.<\/p>\n

George Smith Partners facilitated the construction loan through 3650 REIT, a national commercial real estate portfolio lender founded by Jonathan Roth, Toby Cobb and Justin Kennedy.<\/p>\n

\u201cThis is one of the most well-located development sites in Orange County,\u201d said <\/em>Malcolm Davies, George Smith Partners\u2019 principal and managing director, in a prepared statement. \u201cWe\u2019re very excited about this property\u2019s excellent prospects and were thrilled to work so diligently with BPM and 3650 to drive the value of this project and identify a solution that would work for all parties involved. We feel we assembled the right team with the right understanding of the property and we look forward to continuing our work together.\u201d<\/em><\/p>\n

Designed by GBD Architects, the luxury hotel will feature a modern design and contain numerous family-friendly amenities. About 50 percent of all guest rooms will offer bunk beds to appeal to families with children.<\/p>\n

The hotel will also offer a ground-floor swimming pool and a rooftop pool deck, which will deliver unobstructed views of Disneyland\u2019s famous nightly firework show. There\u2019s also plans for a 353-stall garage offering guests plenty of onsite parking.<\/p>\n

\u201cThe ambiance and visibility from this property will be like nothing else in the market,\u201d <\/em>saidWalter Bowen, BPM\u2019s founder & CEO, said. \u201cWe recognized the opportunity to harness the power of Anaheim\u2019s compelling fundamentals while also introducing a leading global brand to this sought-after tourism destination.\u201d<\/em><\/p>\n

Close to Mickey and Minnie <\/strong><\/h2>\n

Located at 1601 S. Anaheim Boulevard, the property will be situated within the Disneyland\/Anaheim Convention Center submarket, and the hotel will boast a rare four-star offering in that area.<\/p>\n

The Radisson Blu Anaheim will be near the Anaheim Resort district on Interstate 5 and within walking distance to Disneyland\u2019s main entrance and the soon to open Star Wars Theme Park,<\/p>\n

According to recent reports, the Anaheim market has seen tourism on the rise in recent years and has benefitted from increasing hotel occupancy\u201578 percent in 2012 to 85 percent in 2017.<\/p>\n

With more than 28 million annual visitors to Disneyland Park, generating more than $12 million of revenue in the submarket each year, the hotel is primed to be successful.<\/p>\n

The loan was secured by George Smith Partners\u2019 Principal & Managing Director Malcolm Davies and Vice President Zachary Streit, along with other members of the Davies Group in Los Angeles.<\/p>\n

The property is expected to be ready to open in mid-to-late 2020.<\/p>\n

In October, George Smith Partners completed $105.5 million in financing for the $150 million initial phase of The Watermark Tempe<\/a>, a master-planned, mixed-use development on Tempe Town Lake in metro Phoenix.<\/p>\n

Image courtesy of George Smith Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

At 12 stories, the new Radisson Blu will feature 326 keys, and the development will be one of the tallest ever in the Disneyland market. <\/p>\n","protected":false},"author":451,"featured_media":1004283038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21751,21742,15],"tags":[44420,43208],"class_list":["post-1004283035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-hotel","category-latest","category-west","tag-3650-reit","tag-davies-group"],"acf":[],"yoast_head":"\n$115M Construction Loan for Anaheim Luxury 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\/115m-financing-for-anaheim-luxury-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$115M Construction Loan for Anaheim Luxury Hotel\" \/>\n<meta property=\"og:description\" content=\"At 12 stories, the new Radisson Blu will feature 326 keys, and the development will be one of the tallest ever in the Disneyland market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/115m-financing-for-anaheim-luxury-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=\"2018-11-30T14:09:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T11:34:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Raddison-Blu.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1016\" \/>\n\t<meta property=\"og:image:height\" content=\"554\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/115m-financing-for-anaheim-luxury-hotel\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/115m-financing-for-anaheim-luxury-hotel\/\",\"name\":\"$115M Construction Loan for Anaheim Luxury Hotel - 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