| Anguilla, British West Indies, December 6, 2004
- Los Angeles, California-based Sonnenblick-Eichner Company has arranged
land acquisition and joint venture equity financing for the proposed Viceroy
Anguilla Resort & Residences, located on the island of Anguilla in
the British West Indies. The owner-developer is The Kor Group, an
owner-operator of boutique hotels and other institutional-grade commercial
properties and Lubert-Adler Management, Inc., a multi-billion real estate
investment fund.
Sonnenblick-Eichner Company arranged acquisition and joint venture equity
financing for the development group from an institutional investor.
Proceeds from the financing will be utilized to complete the land purchaseand
provide equity for a proposed $130 million development of a world-class
destination resort. The property is located on a 27-acre land
assemblage on a bluff overlooking the Caribbean Sea stretching from Mead's
Bay to Barnes Bay, a unique location on the west-end of the island of Anguilla.
Upon completion, the Viceroy Anguilla Resort & Residences will offer
50 five-star boutique hotel rooms and 52 ocean-front villas and condominiums.
. secure construction financing." The island of Anguilla is one of the most exclusive resort destinations in the world and is globally recognized for its pristine beauty and white sand beaches. Sonnenblick-Eichner Company is currently engaged to arrange construction financing for the project, which is scheduled to start construction next spring. About Sonnenblick-Eichner Company Sonnenblick-Eichner Company, based in Los Angeles, specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing as well as joint-venture equity transactions. The company is recognized for its expertise in marketing institutional real estate for sale and providing capital for all product types including retail, office, hospitality, industrial and multifamily. Since its inception in 2000, Sonnenblick-Eichner Company has completed transactions valued in excess of $2.5 billion. |
