| Mesa West Capital provided a $130M first mortgage loan for the Hyatt Regency San Francisco in a refinancing arranged by Eastdil. Fog City’s only four-star waterfront hotel, the 802-room Hyatt Regency was acquired in 2007 by a partnership of Dune Real Estate Partners and DiNapoli Capital Partners. The ownership group has made significant capital improvements to the property, including a new Regency Club on the 19-story hotel’s top floor. According to Mesa West principal Ronnie Gul, who originated the loan, the hotel is located in one of the nation’s best-performing lodging markets (occupancy is above 80%) and stands to benefit from two key sports events: golf’s US Open in Daly City this year, and sailing’s America’s Cup in San Francisco next year. |
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