Berkadia Hotels and Hospitality Completes $170 Million Financing on Southern California Great Wolf Lodge

March 28, 2019

Berkadia Hotels and Hospitality Completes $170 Million Financing on Southern California Great Wolf Lodge

March 28, 2019

McWhinney Lands $170M Loan for Orange County Water Park | Commercial Property Executive

Lenders Continue to Open the Purse Strings for Hotel Borrowers | National Real Estate Investor 

$170M in Financing Secured for Great Wolf Lodge Near Disneyland | Connect Commercial Real Estate

Berkadia Closes $170M in Financing for Great Wolf Lodge in Garden Grove, California | REBusiness Online

OC Water Park Property Lands $170 Mil in New Financing | RENTV

Deal Report: Nine Hotel Acquisitions and Financings | Lodging Magazine

Berkadia’s Hotels & Hospitality Group Investing in Future by Bolstering Leadership | Hotel Interactive 

Berkadia Closes Great Wolf Financing | Real Estate Weekly 

WASHINGTON, D.C. – March 28, 2018 – Berkadia today announced it closed $170 million in financing for the Great Wolf Lodge in Garden Grove, California. Senior Managing Director Andrew Coleman and Director Mauricio Rodriguez of Berkadia’s Hotels & Hospitality Group facilitated the deal on behalf of Colorado-based McWhinney. The deal closed on March 11.

The loan was closed with Wells Fargo and was structured as a 10-year fixed rate, full term, interest only loan through Wells Fargo’s CMBS platform. It is the first 10-year fixed rate loan ever closed on this asset type.

“The Great Wolf Lodge is an incredibly unique family hospitality property and this location in particular has a been a strong performer an in-demand region since its inception in 2016,” said Coleman. “We were excited to partner with McWhinney and to work with Wells Fargo to find the right financing solution to meet the needs of all involved.”

“This was a complex deal given the uniqueness of this asset, the capital structure desired and our goal to go long term with a focus on rate and proceeds,” said Josh Kane, SVP of Finance, McWhinney. “We are very pleased at what we were able to achieve with the help of the Berkadia and look forward to partnering with the team on future opportunities.”

The nine-story water park resort, the company’s biggest at 105,000 square feet, is situated on 12 acres of land and is located two miles away from Disneyland and the Anaheim Convention Center. The property features 603 rooms, which can accommodate 3,000 guests, a 30,000-square-foot conference venue and 18,000 square feet of retail and dining, including 7 restaurants, a bowling alley, a miniature golf course, a kid’s spa and arcade.

Berkadia’s Hotels & Hospitality group combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.