OCEANSIDE, CALIF. — HFF has arranged $155 million in construction financing for the ground-up development of two oceanfront hotels in Oceanside. The developer/borrower is S.D. Malkin Properties.
Situated on a 2.7-acre, two-block site along Mission Avenue and North Pacific Street, the two hotels will offer immediate access to the beach and a total of 387 rooms, 85 percent of which will have water views.
Destination Resorts will operate one of the hotels, while Joie de Vivre will operate the other. Hyatt owns both brands.
The property operated by Destination Resort will feature 226 rooms, a signature restaurant, indoor/outdoor lounge, pool with ocean views, luxury spa and more than 20,000 square feet of meeting and event space. The hotel operated by Joie de Vivre will feature 161 guest rooms, a rooftop pool and bar, a world-class restaurant, public garden and 3,000 square feet of retail space, as well as the historic 1887 Graves House, which will be renovated and open to the public.
Timothy Wright, Scott Hall, Olga Walsh and Aaron Lapping of HFF placed the construction financing with Bank OZK and an East Coast-based institutional investor for the borrower.