Seven Hills Realty Trust (SEVN) has successfully secured a $29-million first mortgage floating rate bridge loan for the SunCoast Park Hotel Anaheim, located at 1640 S. Clementine St. in Anaheim. The hotel, which is part of the Tapestry Collection by Hilton and features 174 select service rooms, was financed through SEVN’s manager Tremont Realty Capital after being introduced to the transaction by RobertDouglas.
The two-year initial term of the loan includes three one-year extension options that are contingent upon meeting certain requirements set forth by SEVN. According to Tom Lorenzini, president and CIO of SEVN, this investment provides a diverse addition to their portfolio with an attractive risk adjusted return. The property boasts a prime location in Anaheim’s bustling entertainment and retail district with close proximity to popular attractions such as Disneyland and other demand generators like the Anaheim Convention Center and Angel Stadium.
This recent financing deal marks another successful venture for Seven Hills Realty Trust as they continue their growth strategy within various markets across California without compromising on quality or profitability.
