{"id":9640,"date":"2011-01-20T08:28:09","date_gmt":"2011-01-20T16:28:09","guid":{"rendered":"http:\/\/www.carlsbadistan.com\/?p=9640"},"modified":"2011-01-20T08:40:15","modified_gmt":"2011-01-20T16:40:15","slug":"broadreach-capital-gets-aviara-loan-extension","status":"publish","type":"post","link":"http:\/\/www.carlsbadistan.com\/?p=9640","title":{"rendered":"Broadreach Capital Gets Aviara Loan Extension"},"content":{"rendered":"

\"051609<\/a>Carlsbadistan’s<\/em> Park Hyatt Aviara Resort<\/a><\/strong> owners Broadreach Capital Partners<\/a><\/strong> are getting a little more time before they have to begin paying down their $186.5 million loan on the property. The loan, which was set to mature in 2012, has been extended five years to 2017. <\/p>\n

Broadreach’s Director Heather Turner<\/strong> is happy with the extension.<\/p>\n

\u201cWe are particularly pleased with the extension of the term which will allow the resort the time it needs to recover from both macro-economic and hotel-specific challenges of the last few years,\u201d says Turner. \u201cThis modification is in the best interest of the resort and all of its stakeholders and provides the best opportunity to maximize value,\u201d she adds.<\/p><\/blockquote>\n

The Park Hyatt’s General Manager Mark Stiebeling<\/strong> says this allow the hotel to continue to deliver the kind of experience customers are accustomed to.<\/p>\n

\u201cThis decision illustrates Broadreach\u2019s long-term commitment to the success of Park Hyatt Aviara,\u201d says Mark Stiebeling, General Manager of the Resort. \u201cUnder Hyatt\u2019s management, our team has successfully maintained the prestigious AAA Five Diamond Award and we have extensive plans underway to further enhance the Aviara guest experience.\u201d<\/p><\/blockquote>\n

Follow the jump for the full release.
\nBroadreach Capital Partners Receives Five-Year Extension on $186 Million Loan on Park Hyatt Aviara<\/p>\n

PALO ALTO, Calif. \u2013 Broadreach Capital Partners announces today that it has modified a $186.5 million loan on the Park Hyatt Aviara Resort in Carlsbad, CA with an extension to 2017.<\/p>\n

The key modification of the financing on the 329-room luxury resort is a five-year extension on the loan, which was set to mature in 2012. While the modification brings the loan current, it does not require Broadreach to pay down the principal, according to Broadreach Director Heather Turner who is responsible for lodging related investments on the West Coast and Pacific Rim.<\/p>\n

\u201cWe are particularly pleased with the extension of the term which will allow the resort the time it needs to recover from both macro-economic and hotel-specific challenges of the last few years,\u201d says Turner. \u201cThis modification is in the best interest of the resort and all of its stakeholders and provides the best opportunity to maximize value,\u201d she adds.<\/p>\n

\u201cThe resort is now well positioned to continue to provide the world class luxury experience that guests have come to expect from Aviara,\u201d says Turner.<\/p>\n

Built in 1998, the AAA Five Diamond Park Hyatt Aviara features 329 rooms and suites, an 18-hole Arnold Palmer-designed golf course, a 15,000 square-foot European spa, award-winning restaurants and 78,000 square feet of meeting space. The resort is located 35 miles north of San Diego in Carlsbad, California on approximately 200 acres of coastal area land.<\/p>\n

In 2010 Broadreach selected Hyatt Hotels & Resorts to manage the resort under the luxury Park Hyatt brand. Since assuming management duties last June, the hotel has seen a meaningful improvement in revenue over the previous six months due in part to an increase in group bookings.<\/p>\n

\u201cThis decision illustrates Broadreach\u2019s long-term commitment to the success of Park Hyatt Aviara,\u201d says Mark Stiebeling, General Manager of the Resort. \u201cUnder Hyatt\u2019s management, our team has successfully maintained the prestigious AAA Five Diamond Award and we have extensive plans underway to further enhance the Aviara guest experience.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Carlsbadistan’s Park Hyatt Aviara Resort owners Broadreach Capital Partners are getting a little more time before they have to begin paying down their $186.5 million loan on the property. The loan, which was set to mature in 2012, has been extended five years to 2017. Broadreach’s Director Heather Turner is happy with the extension. \u201cWe […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[8,21],"tags":[],"_links":{"self":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/9640"}],"collection":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9640"}],"version-history":[{"count":3,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/9640\/revisions"}],"predecessor-version":[{"id":9643,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/9640\/revisions\/9643"}],"wp:attachment":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9640"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}