DANA POINT, CA––JLL Capital Markets announced today that it has closed $9.5 million in acquisition financing for the Blue Lantern Inn, a 29-key, luxury boutique hotel in Dana Point, California.
JLL worked on behalf of the borrower, Ocean Lodging, to secure the 10-year loan through a commercial bank.
“We are excited to add an asset in the high barrier to entry market of Dana Point to our portfolio. The Blue Lantern Inn will anchor our portfolio for future growth,” said Dev Patel of Ocean Lodging.
Overlooking the Dana Point Yacht Harbor, Blue Lantern Inn offers traditional hotel amenities with a bed-and-breakfast feel. Guests can enjoy a wine and cheese mini-picnic, breakfast for two and borrow bicycles for the day. In addition to the beach, local attractions include the nearby Doheny State Beach, whale watching, golfing, kayaking, wine cruises, local restaurants and more.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Aldon Cole and Analyst Jack Piegza.
“The irreplaceable real estate and near-term upside in the property generated a very competitive response from the market, which benefited the borrower,” said Cole.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.