CALABASAS, CA— Countrywide Commercial, based here, recently closed on more than $300 million worth of financing originations for two hotel transactions. For JER Partners’ purchase of the Fairview Park Marriott in Falls Church, VA, Countrywide originated a $91-million floating rate loan. JER now plans on investing $4 million in renovations at the 394-room asset, which was renovated to the tune of $7 million prior to the sale. The property is currently the only hotel permitted in the area. The recent renovation involved the hotel’s guestrooms. In the second deal, Countrywide originated a $219-million floating rate loan that allowed Trinity Investment to refinance its Kahala Hotel & Resort in Honolulu. The 13-story, 382,000-square-foot property has four restaurants, a lounge, 13,000 square feet of meeting space, an outdoor pool and whirlpool, a spa, an exercise room, a business center, a retail arcade, a game room, a private beach and a 26,000-square-foot lagoon. Trinity now plans to renovate and reposition the resort.
