Mesa West Capital provided a $130 million first mortgage to refinance the Hyatt Regency San Francisco, a 802-room hotel located on the waterfront in the city’s Financial District. Eastdil Secured arranged the transaction.
A partnership of Dune Real Estate Partners LP and DiNapoli Capital Partners LLC owns the property. After acquiring the hotel in 2007, Dune Real Estate and DiNapoli made significant capital improvements to it, including a new Regency Club on the top floor and a renovation of the Regency Club rooms on the top two guest floors.
According to Ronnie Gul, a principal with Mesa West, the property benefits from an excellent location, in addition to limited supply of new hotel properties and strong business and leisure travel demand in San Francisco. At the moment, the occupancy rate for hospitality properties in the city is more than 80 percent.