LOS ANGELES, CA – The Los Angeles office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $35 million bridge loan for Embassy Suites Glendale (top left photo), a 272-room, full-service hotel in Glendale, California.
HFF director Tina Derderian (middle right photo) worked on behalf of Kam Sang Company to secure the 36-month, adjustable-rate loan with Prime Finance, a commercial real estate finance company with offices in San Francisco, Chicago and New York. Loan proceeds financed the payoff of the existing construction loan.
Kam Sang Company developed the hotel and also manages it.
Embassy Suites Glendale is located at 800 North Central Avenue in downtown Glendale with easy access to the Ventura Freeway (134) and Burbank, Los Angeles and Pasadena.
Completed in 2008, the property features a pool, laundry, full-service restaurant, business center and 8,000 square feet of meeting space, including a 5,000-square-foot ballroom.
Kam Sang Company, established in 1979, develops, acquires and manages hospitality, retail, residential and mixed-use properties in Southern California.
Contacts:
Tina K. Derderian, CPA, HFF Director, (310) 407-2100, tderderian@hfflp.com
Kristen M. Murphy, Associate Director, Marketing, (713) 8523500, krmurphy@hfflp.com
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