Le Meridien by Marriott International

Arcadia, CA

Hotel - Construction

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Arcadia, CA

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Le Meridien by Marriott International

HOTEL - CONSTRUCTION

In June 2019, ACRES originated a $43.5 million bridge loan to complete the construction and stabilization of the Le Meridien by Marriott International hotel in Arcadia, Calif. The loan, which carries a term of 24 months, is sponsored by veteran investors Eric Chen and Wen Fei Shen.

The loan offered an attractive opportunity for ACRES to provide a flexible capital solution to experienced sponsors in the Los Angeles County market.

Located at 130 West Huntington Drive in the San Gabriel Valley, the Le Meridien by Marriott International consists of the following:

A full-service, four-star hotel encompassing 233 rooms
Several amenities for guests, including a 5,000-square-foot ballroom, outdoor and meeting spaces, and lounge
Convenient proximity to tourist attractions and numerous food and beverage outlets

$43.5M

Loan Amount

24 Months

Loan Term

Construction Loan

Loan Product

“ACRES recognized the potential of this development and provided an adaptive financing solution to move the hotel toward completion. Its national experience with hospitality projects, deep knowledge, and efficient process provided us with the due diligence necessary to adhere to our timeline and budget.”

- Eric Chen and Wen Fei Shen

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.