Meridian Capital Group Secures $23.1M in Acquisition Financing for Hilton Garden Inn San Diego
SAN DIEGO — Meridian Capital Group has arranged $23.1 million in financing for the acquisition of Hilton Garden Inn San Diego Mission Valley Stadium in San Diego. The name of the borrower was not released. Seth Grossman, Steven Adler and Jackie Tran of Meridian Capital Group secured the 10-year CMBS loan, which features a fixed rate and 24 months of interest-only payments followed by a 30-year amortization schedule.
Located at 3805 Murphy Canyon Road, the four-story hotel features 178 guestrooms, including 17 upgraded suites. The property was converted from a Holiday Inn into a Hilton Garden Inn with a $10 million renovation, completed in July 2016. Renovations included upgrades to the guest rooms, guest bathrooms, lobby, front desk, 5,000 square feet of meeting space and on-site restaurant and bar. Additionally, the hotel offers a heated outdoor pool and spa, fitness center, business center and guest laundry.