Properties: Kona Kai Resort & Marina

KONA KAI RESORT & MARINA
SHELTER ISLAND, SAN DIEGO, CA

Property 129 room full service resort and conference center located at most prominent location on Shelter Island on the San Diego Bayfront with favorable 40-50 year land lease. Property includes a 150 seat restaurant, 13,430 sq. ft. of meeting space, health club, spa, pool, private 1/4 mile of sandy beach, irreplaceable location with 100% of rooms with views of water and highly desirable Marina in market fronting subject property.
  
Purpose Acquisition of under-managed and under-performing property for repositioning, rebranding and renovation to reposition property from 3-star to 4-star rating.
  
Capitalization – Senior Loan:                                                 $13,347,000
– Equity:                                                            $7,187,000
– Total Capitalization:                                    $20,535,000

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