It was originally structured with an initial four-year term and two one-year extension options. It carries a floating rate of L + 4.80% with interest-only payments through maturity. Yield Maintenance remains in effect through April 2021.
Jones Lang Lasalle (“JLL”) has been retained by the Seller on an exclusive basis to arrange the sale of a $145 million hotel loan (the “Loan”) secured by the fee simple interest in an upscale, full-service hotel resort located in San Diego (the “Property” or the “Collateral”). The Loan has a current principal balance of $143,288,000 with $1,912,000 of future funding remaining.
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