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 Sonnenblick-Eichner Company Arranges $49,000,000 of First Mortgage
Financing for Three Hotels in the Pacific Northwest
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Los Angeles, CA – June 26, 2007 - Sonnenblick-Eichner Company announced today that it has arranged $49 million of first mortgage financing for three separately owned hotels located in the Pacific Northwest cities of Portland and Seaside, Oregon and Seattle, Washington. 

The company arranged a $20 million, 10-year fixed rate loan for the Best Western Ocean View Resort, a 5-story 107-room full service hotel located on the beach in Seaside, Oregon.  The AAA Three-Diamond hotel includes 6,100 square feet of meeting and banquet facilities, a restaurant and bar, and a heated indoor swimming pool.

The Hotel Bridgetown, formerly the Days Inn hotel located in the Portland CBD, is a 5-story, 174-room hotel and will be one of downtown Portland’s newest independent full service boutique hotels.  The company arranged a $17 million acquisition and renovation loan which provides the borrower funds to complete an extensive $6 million renovation.   The 5-year LIBOR-based floating rate facility is non-recourse.

Sonnenblick-Eichner Company also arranged a 10-year fixed rate loan for the 154-room Hampton Inn Southcenter located in Seattle, Washington, refinancing a maturing loan previously arranged by the company.  The $12 million loan is for a term of 10-years and the payments are interest only for the entire term. The hotel is located in close proximity to Sea-Tac International Airport.

Elliot Eichner, a Principal of Sonnenblick-Eichner Company commented, “These transactions are indicative of our experience in hotel financing throughout the Pacific Northwest.  Including these transactions, we have completed $390 million in financing for 19 different independent and branded hotel assets over the past 18 months in the region.”

Aaron Lerner, a Vice-President of Sonnenblick-Eichner Company, added, “We were successful in working through several new underwriting challenges resulting from the recent shifts in the capital markets in addition to the rapid run-up in long term interest rates. By leveraging our company’s relationships with capital providers, we were able to successfully close these loans on behalf of our clients.”

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:

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

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Also See: Sonnenblick-Eichner Company Arranges $65,000,000 of First Mortgage Leasehold Financing for the Sheraton Park Hotel at the Anaheim Resort, Anaheim, California / June 2007
Sonnenblick-Eichner Company Completes $88.5 million of First Mortgage Financing for a Portfolio of Nine Hotels in California / March 2007
Sonnenblick-Eichner Company Arranges $136 million of First Mortgage Financing for Provenance Hotels / January 2007
Sonnenblick-Eichner Company Arranges $63 million of First Mortgage Financing for a Portfolio of Six Oceanfront Hotels in California / November 2006
Sonnenblick-Eichner Company Arranges $63 million of First Mortgage Financing for a Portfolio of Six Oceanfront Hotels in California / November 2006
Sonnenblick-Eichner Company Arranges $28 million of First Mortgage Financing for the Hotel Andra in Seattle, Washington / October 2006
Sonnenblick-Eichner Company Arranges $41.5 million of First Mortgage Financing for Hotel 1000 in Seattle, Washington / September 2006
Sonnenblick-Eichner Company Arranges $61.5 million of First Mortgage Financing for the Marriott Monterey Hotel in Monterey, California / September 2006
Sonnenblick-Eichner Company Completes $40 million Sale of the Coast Santa Cruz Hotel in Santa Cruz, California / September 2006
Sonnenblick-Eichner Company Arranges $41.5 million of First Mortgage Financing for the Maui Coast Hotel in Maui, Hawaii / June 2006
Sonnenblick-Eichner Company Arranges $236 million in Construction Financing for Viceroy Anguilla Resort and Residences, Anguilla, B.W.I. / June 2006
Sonnenblick-Eichner Company Arranges $67 million of First Mortgage Financing for Charleston Place, Charleston, South Carolina / March 2006
Sonnenblick-Eichner Company Arranges Permanent Financing for The Crowne Plaza Hotel in Phoenix, Arizona / February 2006
Sonnenblick-Eichner Company Arranges $54 million of Leasehold Renovation Financing for The Sheraton Park Hotel at the Anaheim Resort, Anaheim, California / February 2006
Sonnenblick-Eichner Company Arranges $58.5 million of Long Term Financing for the Benson Hotel and Paramount Seattle Hotel / January 2006
Sonnenblick-Eichner Company Arranges $44 million in Financing for National Hotel Portfolio / January 2006
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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