Hotel del Coronado debt breakdown

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16 November 2010
By Shawn A. Turner
Finance Editor
Shawn@HotelNewsNow.com

Story Highlights
  • Strategic Hotels & Resorts, which leads the venture that owns the property, said there is no guarantee the venture will be successful in renegotiating terms given the current state of the credit and real estate markets.
  • Mortgage and mezzanine debt financings and revolving credit facility mature 7 January 2011
  • Net debt of approximately US$604.5 million.

The venture that owns the Hotel Del Coronado in San Diego has US$610 million of non-recourse mortgage and mezzanine debt financings and a US$20 million non-recourse revolving credit facility, secured partially by the mortgage on the property.

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