Hotel Online  Special Report

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 Sonnenblick-Eichner Company Arranges $44 million
in Financing for National Hotel Portfolio
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Los Angeles, CA – January 17, 2006 - Sonnenblick-Eichner Company announced today that they have arranged $44,000,000 of first mortgage financing for three full service hotels located in Arizona, Florida and Illinois on behalf of a New Orleans-based hospitality investment company.

The hotels include: the 209-room Embassy Suites in Schaumburg, Illinois; the 237-room Hilton-Rialto Hotel in Melbourne, Florida; and the 314-room Embassy Suites hotel located in Phoenix, Arizona.  The properties were separately financed with the Phoenix Embassy Suites and the Hilton-Rialto Hotel securing 10-year loans with a 30-year amortization and the Schaumburg Embassy Suites property being secured by a five-year loan. 

“The borrower was able to realize pent-up equity in each of the properties through a debt financing at interest rates in the low 5 percent range”, said Elliot Eichner, principal with Sonnenblick-Eichner Company. 

Patrick Brown, also a principal with Sonnenblick-Eichner Company added, “The lender was very flexible in allowing the borrower sole management responsibility to complete renovations and PIP requirements post-closing.”

About Sonnenblick-Eichner Company
Sonnenblick-Eichner Company (www.sonneich.com) is a Los Angeles based real estate investment banking firm that 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 properties. 

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Contact:

 Colette Schamet
Sonnenblick-Eichner Company
1901 Avenue of the Stars, #1750
Los Angeles, Ca 90067
Tel 310-286-7700  Fax 310-286-7710
cschamet@sonneich.com
www.sonneich.com

Also See: Sonnenblick-Eichner Company Arranges $68,500,000 in Financing for Two California Hotels / April 2005
Sonnenblick-Eichner Company Arranges $17.6 Million in Financing for Hilton Tampa Westshore in Tampa Bay, Fla. / January 2005

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