Strategic Hotels & Resorts closes $750m credit facility, refinances Ritz-Carlton

Deutsche Bank has refinanced the Ritz-Carlton Half Moon Bay in Half Moon Bay, California with a $115m mortgage loan and served as co-lead arranger of a $750m unsecured credit facility provided to the borrower, Strategic Hotels & Resorts. The five-year Half Moon Bay loan bears interest at a floating rate of LIBOR plus 240 basis points and has two one-year extension options.