Aaron Lapping
Senior Director
858.257.4725
aaron.lapping@berkadia.com
CA License No. 02027729
Scott Hall
Managing Director
858.257.4724
scott.hall@berkadia.com
CA License No. 01917029
Scott Hall
Managing Director
858.257.4724
scott.hall@berkadia.com
CA License No. 01917029
Investment ADVISORS:
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PROPERTY INFORMATION
Berkadia’s Hotels & Hospitality Group is pleased to offer, on an exclusive basis, the opportunity to recapitalize the fee-simple interest in the historic Coast Inn (the “Hotel” or “Property”). Perched on the oceanfront bluffs of Laguna Beach, the 24-key Hotel stretches from California's famed Pacific Coast Highway to the blue water of the Pacific Ocean. The Property’s idyllic beachfront location, surrounded by acclaimed restaurants, art galleries and high-end shopping, provides the quintessential Laguna Beach experience for hotel guests and patrons alike. Current ownership has completed the lengthy, challenging and risk-filled entitlement process and has secured approvals from the California Coastal Commission and the City of Laguna Beach for the transformative redevelopment of the Property into one of Southern California's top luxury boutique hotels. A new investor can implement the redevelopment or may opt to pursue a less-capital intensive renovation of the existing guestrooms, thus delivering an elevated rooms-only hotel product in addition to a prime restaurant space ideal for a NNN lease.
Originally built in 1929, the Coast Inn is located on the water in one of California’s most iconic and prestigious destinations. In addition to irreplaceable beachfront real estate and incredibly rare approvals for a luxurious transformation of the Hotel, a new investor will also benefit from an unencumbered 6,000 square foot restaurant space with unique optionality to self-operate or bring in a best-in-class tenant through a NNN lease. New ownership will also benefit from incentives granted through Laguna Beach's Historic Register Preservation initiative.
This once-in-a-lifetime opportunity allows new ownership to recapitalize an unencumbered, fee-simple, oceanfront Property with unique business plan optionality in the heart of one of the Nation's most luxurious and highest-barriers-to-entry destinations.
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Courtney Farrington
Senior Financial Analyst
619.497.3083
courtney.farrington@berkadia.com
CA License No. 02163860
H&H Mortgage Banking:
Laguna Beach is a world-renowned coastal community with unparalleled leisure appeal. The Hotel’s beachfront location provides unique connectivity to Southern California’s affluent feeder markets in Los Angeles, Orange County, San Diego and the Inland Empire. Known for pristine beaches, spectacular coastline, scenic trails, world-class shopping and an excellent culinary scene, Laguna Beach is a prime, drive-to leisure destination in Southern California.
Laguna Beach is consistently hailed as one of California most renowned lodging markets. Benefitting from seven miles of pristine beaches, mild climate, worldclass retail and premier dining, it is the quintessential coastal Californian luxury destinations. Well known for its art scene, Laguna Beach also features a number of one-of-a-kind specialty shops and boutiques. Laguna Beach is nestled along the famous Pacific Coast Highway on the water in Orange County, which benefits from more than 50 million visitors driving $13 billion in spend annually. Orange County is a premier international travel destination that also serves as headquarters to a number of Fortune 500 companies.
INVESTMENT HIGHLIGHTS
LOCATION – LAGUNA BEACH, CA
Orange County is home to some of the most famous theme parks in the world including Disneyland® Resort in Anaheim and Knott’s Berry Farm® Theme Park in Buena Park, making it the ideal family vacation destination. With year-round mild climate and California sun, The O.C. also welcomes millions of visitors to its world-renowned beaches and parks including Huntington Beach, Newport Beach, Balboa Park, Laguna Beach, and Crystal Cove State Park. In addition, visitors enjoy numerous shopping options including Fashion Island and Irvine Spectrum Center.
Orange County is home to nearly 200 Fortune 500 company headquarters and operations and has one of the strongest economies in the nation. The 1.8-million-square-foot Anaheim Convention Center (ACC), the biggest convention center on the West Coast, recently added 200,000 square feet and experienced a surge in conference attendees. Over one million additional tourists to Anaheim in 2017 marked the fifth record-setting year in a row with 24.2 million visitors.
LOCATION – ORANGE COUNTY, CA
San Diego Office
4275 Executive Square, Suite 900
La Jolla, CA 92037
Fee-Simple, Generational Beachfront Real Estate
1
Significant Business Plan Optionality
2
High-Barriers-To-Entry Coastal Market
3
Idyllic Drive-To Coastal Location
4
World-Class Leisure Destination
5
Restaurant Space Optionality
6
Whitewater Views of the Pacific Ocean
7
ADDRESS
1401 South Coast Highway
Laguna Beach, CA 92651
GUESTROOMS
24
BRAND / MANAGEMENT
Unencumbered / Unencumbered
LAND AREA
0.25 Acres
CONFIGURATION
4 Stories
TENURE / LABOR
Fee-Simple / Non-Union
RESTAURANT SPACE
6,000 SF; Can either be operated in-house or leased out
PARKING
No On-Site Parking
(Property was originally developed without minimum parking requirements and will not require parking post-renovation)
ENTITLEMENTS / APPROVALS
• California Coastal Commission
• City of Laguna Beach
• Heritage Committee Historic "E" Rating
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.