SAN DIEGO – October 29, 2021 – Berkadia today announced the closing of the financing of the newly-transformed Town & Country Resort located in San Diego, California. Managing Director Scott Hall and Senior Director Aaron Lapping of Berkadia secured the $148 million floating rate loan through Värde Partners on behalf of the borrower, a partnership between Lowe and Atlas Hotels.
“Through incredible stewardship and vision, Lowe and Atlas Hotels have successfully transformed Town & Country to meet and exceed the expectations of today’s leisure, corporate transient and group guest demands,” said Hall. “Värde’s conviction in sponsorship’s business plan and quality of the resort’s repositioning is further fortified by rapidly improving and strong long-term lodging market fundamentals here in San Diego.”
Situated on 31 acres in the heart of San Diego’s Mission Valley, the repositioned Town & Country Resort now features 671 guestrooms, five food and beverage outlets, two resort pools, a water slide and more than 292,000 square feet of indoor and outdoor meeting space. Hotel guests enjoy direct pedestrian access to the San Diego Trolley and Fashion Valley Mall, in addition to outstanding connectivity to three interstate highways, Downtown San Diego, San Diego International Airport, San Diego State University, University of San Diego, world famous beaches and numerous local leisure attractions. The resort is managed by CoralTree Hospitality Group.
Berkadia Hotels & Hospitality 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.