Waterfront Hilton Secures Interim Refinancing

HUNTINGTON BEACH, CA-More than $27 million in floating-rate interim refinancing has been secured for a Huntington Beach hotel.

The Waterfront Hotel LLC has received the $27.7-million loan for its 290-unit Waterfront Hilton Beach Resort. Encompassing 350,000 sf, the property is located on a 3.6-acre land parcel. It boasts a range of amenities, including include a wedding pavilion, two restaurants, a fitness center, an outdoor swimming pool, tennis courts, and an 18,000-sf meeting space.

The funding has been provided by GMAC Commercial Mortgage Corp. The GMACCM Hospitality Production Division of Washington, DC arranged the transaction. GMAC Commercial Mortgage is a wholly owned subsidiary of GMAC Commercial Holding Corp. The lending and servicing specialist serves commercial real estate borrowers and investors through loan origination, servicing, asset management and securitization of commercial mortgages. GMACCMC provides a variety of financing products and services including permanent, interim, and construction lending, with specialized lending units focused on healthcare and hospitality as well as e-commerce offerings through Internet commercial mortgage lending.