Red Oak Capital Holdings Provides $6M Refinancing for Catalina Island Hospitality Property

Red Oak Capital Holdings Provides $6M Refinancing for Catalina Island Hospitality Property

AVALON, CALIF. — Red Oak Capital Holdings has provided a $6 million bridge loan for the Hermosa Hotel & Apartments in Avalon, a city on Santa Catalina Island. The loan proceeds will retire existing debt at the century-old property, located at 131-171 Metropole Ave. Hermosa Hotel & Apartments contains 46 buildings offering a total of 44 hotel rooms, a commercial unit occupied by a spa and 26 multifamily units. Since acquiring the property in 2019…

Randy and Linda at Catalina Island in December 2011 -- (Not So) Wordless Wednesday #872

I found another priceless (to me) photograph in my computer file folders:In December 2011, Linda and I had a short weekend vacation and went to Catalina Island off the coast of Los Angeles.  We drove to Long Beach with the CD player blasting 1950s and 1960s songs. The ferry ride from Long Beach to Avalon (remember the song "26 Miles Across the Sea"?) was fairly smooth.  We stayed in a hotel in Avalon and took some tours.  And came back to Chula …