Shutters on the Beach & Casa Del Mar

Santa Monica, CA

Purchased: 2008

Investment: $57.6M

Repayment: 2013

 

These hotels are located in the exclusive waterfront of Santa Monica and valued in excess of $400 million. Eastern was impressed by the quality and general management of both properties. 

In May 2008, Eastern acquired a discounted (20%) mezzanine loan position through a complex intercreditor loan purchase agreement.

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