Jones Lang LaSalle Inc.
10/09/2024 | Press release | Distributed by Public on 10/09/2024 13:18
JLL secures $14M refinancing for Home2 Suites by Hilton Temecula
SAN DIEGO, Oct. 9, 2024 - JLL Capital Markets announced today it secured the $14 million refinancing for Home2Suites by Hilton Temecula, a 120-room extended-stay hotel in the heart of Southern California's wine country.
JLL worked on behalf of the borrower, an affiliate of Huntington Hotel Group, to secure the floating-rate, three-year loan through MetLife Investment Management.
Built by the borrower in 2019, the four-story Home2 Suites by Hilton Temecula caters to both leisure and business travelers with its blend of comfort and convenience. Guests can enjoy a 24-hour fitness center, an outdoor pool area complete with BBQ facilities, a business center, complimentary daily breakfast, free on-site parking and the convenience of a grab-and-go market in the lobby. With San Diego, Orange and Los Angeles counties, all within an hour's drive, the property is well situated to capture day and weekend travel throughout the region.
The JLL Debt Advisory team was led by Senior Managing Director Tim Wright, Director Olga Walsh and Analyst Jack Wood.
"Temecula has emerged as a booming Southern California drive-to destination," said Walsh. "Its combination of an affluent local community and a thriving tourist industry, driven by favorable income levels and diverse attractions, has solidified Temecula's status as a premier destination in the region."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
Huntington Hotel Group develops and manages premium brand select service hotels, operating a portfolio of more than 3,200 rooms. In addition to developing, owning and operating hotels, Huntington Hotel Group provides operating and asset management services for hotel owners through its affiliates. For more information, please visit huntingtonhotelgroup.com.