HREC Arranges Financing for Homewood Suites in CA

OAKLAND, CA—HREC Capital Markets Group has arranged a $13 million dollar senior loan for the refinancing of the leasehold interest in the 132-suite Homewood Suites by Hilton Oakland–Waterfront in Oakland, CA. The 10-year fixed rate non-recourse loan was provided by an international bank. 

The hotel is situated adjacent to the Port of Oakland’s $1.5 billion mixed-use Brooklyn Basin Development which, once complete, will bring 3,100 residential units, 200,000 sq. ft. of retail and commercial space, and 32 acres of parks and trails to the neighborhood.