SANTA MONICA, CA— The Los Angeles office of Holliday Fenoglio Fowler, L.P. (HFF) secured a $112.5 million refinancing for Shutters on the Beach, a 198-key hotel on the ocean-front here. Executive managing director Scott McMullin and associate director Anita Paryani worked on behalf of The Edward Thomas Companies to obtain the two-year, plus options, adjustable rate financing through JP Morgan Mortgage Capital, a conduit lender. The Edward Thomas Companies is a hotel developer and operator with ownerships dating back to 1953. In addition to owning Shutters, it owns Casa del Mar, for which HFF also arranged financing. The guestrooms are distributed in two buildings: a 41-room Beach House and 157-room Ocean House. The property also includes two restaurants, meeting space, a parking garage, an outdoor swimming pool and a health club. Shutters on the Beach is located at the intersection of Pico Boulevard and Ocean Ave., proximate Santa Monica Pier, Third St. Promenade, Main St. and Montana Ave.
