Mesa West Capital Provides $16 Million Loan to Refinance Hotel Palomar in Arlington, VA

Sept. 21, 2010 - PRLog -- NEW YORK - Mesa West Capital has provided a $16 million loan to refinance an existing mortgage on the 154-room Hotel Palomar in Arlington, Virginia.
   Overlooking the Potomac River, the Hotel Palomar is part of Waterview, a mixed use project built in 2007 that also includes 650,000 square feet of office space and 133 residential condominium units.  The hotel is owned by a partnership between The JBG Companies, CIM Group, and Brookfield Properties and is managed by Kimpton Hotels.  The financing was arranged by Joe Donato and Matt Williams of CBRE.  
   “The interim financing was provided in order to give the sponsor time to stabilize the asset as the hotel sector emerges from the recession and performance continues to improve,” said Director Raphael Fishbach, who heads Mesa West’s New York City office and originated the loan.   “As we look to expand our footprint to the east coast, we are very excited to provide financing on a high quality asset that is owned by one of the premier sponsorship groups in Washington D.C.,” he added.

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About Mesa West Capital, LLC
Mesa West Capital http://mesawestcapital.com is a leading commercial real estate capital source. With offices in Los Angeles and New York Mesa West Capital provides flexible and reliable capital for value-added and stabilized commercial real estate projects. Mesa West Capital, a non-recourse portfolio lender with a capital base over $2.0 billion, has continued to provide financing throughout the current credit market turmoil. Mesa West Capital is actively seeking investment and financing opportunities for all property types in the Western United States and gateway cities on the East.