SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced that Gary Goss of the company’s Capital Markets Group arranged an $11-million loan for two hotel properties, Beach View Lodge and Beach Terrace Inn, in Carlsbad, California.
Beach View Lodge is located at 3180 Carlsbad Boulevard and Beach Terrace Inn is located at 2775 Ocean Street. Beach View Lodge is a 41-room, limited service property operating as a Best Western. Beach Terrace Inn is a 48-room, limited service independent hotel which underwent an extensive renovation in 2009.
Morgan Stanley provided the borrower with a 10-year, fixed rate, non-recourse loan with a six percent interest rate.
For more information about financing commercial real estate, please contact Gary Goss at 858.546.5452.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,200 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded nearly $1.2 billion in transactions in 2010. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.