Slatt Capital's Los Angeles office has successfully arranged $41,000,000 in construction financing for the ground-up construction of a 256-key, approximately 166,800-square-foot dual-branded Hyatt House & Hyatt Place hotel. The project will be located in Ontario, California, and has a target completion of Q3 in 2026.
Senior Vice President Gilda Rivera played a key role in underwriting and negotiating the terms on behalf of the sponsor through her expertise in construction financing and strong relationships with a wide range of capital providers. She identified a capital provider under changing market conditions that recognized the value of constructing a premier flag hotel in a popular destination for leisure travelers and business professionals. A bank lender with a long-standing relationship with Slatt Capital partnered with our team on every facet to ultimately become the capital source for the sponsor's financing, offering a competitive rate on the 36-month interest-only term and the 60% loan-to-cost the sponsor sought.
The Hyatt House & Hyatt Place development is notable as it will be the first new hotel constructed in the Ontario submarket since 2018. This irreplaceable location is situated in a thriving, dense, and infill urban market, in close proximity to major employment centers, key freeways, popular traveler destinations, and the Ontario International Airport.
