The Mayer Corporation and Hyatt Hotels are closing in on a roughly $200 million refinancing for the oceanfront Hyatt Regency Huntington Beach Resort & Spa, a cash-out move that would replace a looming loan maturity and send money back to the property’s owner. The deal centers on the 517-room, Spanish-style resort along Pacific Coast Highway that spans more than a dozen acres of prime beachfront. For Huntington Beach locals, the loan is a window into how deep-pocketed hotel owners are juggling maturing debt in a higher-rate capital market.
According to The Real Deal, which cites a pre-sale report from S&P Global Market Intelligence, Mayer and Hyatt are nearing a $200 million mortgage that would retire an existing roughly $182 million loan set to mature in early May. Entities tied to The Mayer Corporation and Hyatt are listed as the borrowers and sponsors, and a closing was anticipated later this month, the outlet reports. The refinancing talk surfaced after commercial-mortgage documents showed the prospective loan on…..