S.D. Malkin Properties has secured a $155 million construction loan for the development of two oceanfront hotels in Oceanside, Calif., in metro San Diego, Commercial Property Executive reported.
The 2.8-acre, two-block site is along Mission Avenue and North Pacific St., with immediate access to the beach. Totaling 387 rooms—most of them with water views—the two hotels will be operated by Destination Resorts and Joie de Vivre.
The first one is slated to include 226 keys, a signature restaurant, indoor/outdoor lounge, pool with ocean views, luxury spa and more than 20,000 sq. ft. of meeting and event space.
The second property is set to have 161 keys, a rooftop pool and bar, restaurant, public garden and 3,000 sq. ft. of retail space.
“The beachfront hotels will be distinctive, but complementary, providing a full-service and boutique experience in downtown Oceanside’s burgeoning retail, restaurant and entertainment district,” Wright said in a press statement. “The hotels will help meet the demand for high-quality, unique beachfront hospitality in San Diego and Southern California.”