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$4,350,000
First Mortgage
Mission Hills
Best Western
Mission Hills, California |
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This Best Western is a 115 unit Best Western Hotel constructed in
1960 and extensively renovated in 1994. It is a two-story hotel with
three separate guestroom buildings and a conference center/restaurant
building, all of which surround a courtyard with an outdoor pool and
barbecue area. It is located in the District of Mission Hills within
the city limits of Los Angeles, California. The property is located
on Sepulveda Boulevard approximately one mile south of I-5. Sepulveda
Boulevard is a major north/south artery which runs parallel to I-405
throughout the San Fernando Valley.
Suburban provided a first mortgage loan to the borrower for the acquisition
of the property. The loan was a fixed-rate mortgage having a 10-year
maturity with a 30-year amortization, and was priced at a fixed interest
rate spread over the 10-Year U.S. Treasury Bond Index.
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