Elkins Kalt Represents Institutional Lender on US$37 Million Construction Finance Loan for Pasadena Hotel

June 5, 2023


Elkins Kalt advised an institutional lender on a US$37 million syndicated ground lease construction mortgage loan to a Southern California hospitality group.  The proposed development will be a nationally branded multi-story hotel in Pasadena, California with over 190 rooms, scheduled to open in 2025.

The Elkins Kalt real estate finance team was led by attorneys Scott Kalt, Phil Lerch, and Avi Birns.