Case Studies

City of Redondo Beach – Marine Hotels

ResiRB ExtDay
Client:  City of Redondo Beach
Date:  2011 - 2014

Site Specific Tax Revenue Pledge (SSTR)

Kosmont worked with the City and Developer to identify funding sources and negotiate a lease-leaseback structure to fund the development of three (3) hotels (Hilton Garden Inn, Marriott Courtyard, and Homewood Suites) within the City. Kosmont used a pledge of future city revenues as a backstop to help underwrite financing to make the 506-room project feasible for the developer and the City.

The Hilton Garden Inn and Courtyard Marriott are open for business. Homewood Suites by Hilton is scheduled to open in 2017.

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