Langham Pasadena
Arranged a floating rate facility for the acquisition and reflagging of the Langham Huntington Hotel & Spa located in Pasadena, California. Despite a lending market that had all but shut down in December 2007, Regency Capital Partners was able to secure over $100 million of acquisition bridge financing with less than 5 weeks to close over the holidays. Additionally, although the asset had a below break-even DSCR and this would be only the second Langham flag in the United States, the ultimate terms achieved for the Borrower were comparable to those prior to the "credit crunch" and exceeded their expectations and internal assumptions.