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Image Credit Hotel Amarano
Peachtree Group has secured a $55 million bridge loan to recapitalize the Hotel Amarano Burbank-Hollywood, facilitated by JMBM.
JMBM represented Peachtree Group in securing a $55 million bridge loan for the recapitalization of the Hotel Amarano Burbank-Hollywood. The loan is a three-year, floating-rate agreement that includes two 12-month extension options. The borrower, Nimes Real Estate, aims to stabilize the hotel following recent challenges.
Nimes Real Estate acquired the 132-room hotel in late 2019 and has since completed a multimillion-dollar renovation. The property, situated in the Burbank Media District, has faced operational challenges due to the COVID-19 pandemic and the 2023 Writers Guild of America strike. The recapitalization is intended to enhance the hotel’s financial stability and capitalize on its strategic location.
JMBM’s team, led by David Sudeck, facilitated the loan origination for Peachtree Group. The firm also provides legal representation to Peachtree in its multi-state C-PACE lending program. The recapitalization is expected to position the hotel to benefit from existing demand and market growth in the area.
The financial arrangement aims to provide Nimes Real Estate with the necessary capital to maintain operations and capitalize on market opportunities. The hotel’s location in a media-centric district is considered advantageous for attracting business and leisure travelers.
Peachtree Group’s involvement in the recapitalization reflects its ongoing investment strategy in the hospitality sector. The loan is part of a broader effort to ensure the financial health and competitive positioning of the Hotel Amarano in the Burbank market.
