AIG loan refinances San Diego hotel

AIG Investments has provided a $140m, 15-year fixed rate loan to TRT Holdings and JMI Realty for the refinancing of the Omni San Diego hotel in San Diego, California. The 200,000 sq ft, 511-room convention center hotel is located at 675 L Street in downtown San Diego’s Gaslamp Quarter, across the street from the San Diego Convention Center.

AIG Investments has provided a $140m, 15-year fixed rate loan to TRT Holdings and JMI Realty for the refinancing of the Omni San Diego hotel in San Diego, California.

Omni San Diego HotelThe 200,000 sq ft, 511-room convention center hotel is located at 675 L Street in downtown San Diego’s Gaslamp Quarter, across the street from the San Diego Convention Center. The 21-floor hotel, built in 2004 and renovated in 2013, also features a McCormick & Schmick’s Seafood Restaurant, Terrace Bar & Grill, an 8,000 sq ft rooftop terrace and 27,000 sq ft meeting space. Its 11 floors featuring 36 condominiums are not part of the financing.

Dallas, Texas-based TRT Holdings’ assets include Omni Hotels & Resorts, Gold’s Gym International and Tana Exploration; while developer JMI Realty manages a real estate investment portfolio valued at approximately $600m and is the master developer of San Diego’s Ballpark District. HFF represented the borrowers.

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