Sonnenblick-Eichner Company Arranges $265,000,000 of Financing for the JW Marriott Chicago
July 22, 2014 3:34am
Beverly Hills, California - July 22, 2014 - Sonnenblick-Eichner Company announced today that it has arranged $265,000,000 of first mortgage financing for the 610-room JW Marriott Chicago, located in downtown Chicago, Illinois. The property is part of a 1.1 million square-foot mixed-use property, which occupies a full city block in the financial district of downtown Chicago.
The property was refinanced with a non-recourse, LIBOR-based floating rate loan that was provided by a Wall Street investment bank.
The hotel occupies the lower floors of an iconic Daniel Burnham designed building that was originally completed in 1914. The building has since been designated as a historic landmark and added to the National Register of Historic Places. In 2008, the lower 12 floors were fully renovated and converted into the 610-room JW Marriott Chicago, the only luxury hotel operated by Marriott International in the Chicago metro area. The property is located adjacent to the Federal Reserve Bank of Chicago and one block from the Chicago Board of Trade.
David Sonnenblick, a Principal of Sonnenblick-Eichner Company, commented, "The capital markets remain tremendously liquid for quality real estate transactions, as indicated by the interest we received from multiple lenders who had the desire to make this large single asset loan."
Elliot Eichner, also a Principal of Sonnenblick-Eichner Company, added: "We were successful in finding a lender who had the ability to fund the entire loan so there was no syndication risk to our client."
Tags: sonnenblick-eichner company,
jw marriott chicago
Contact: Colette Schamet
(310) 286-7700 x 108
Sonnenblick-Eichner Company Arranges $92,000,000 of First Mortgage Financing for a Portfolio of Four Hotels Located in Texas, Virginia, Pennsylvania and New York
Sonnenblick-Eichner Company Arranges $75,000,000 of First Mortgage Leasehold Financing for Cavallo Point-The Lodge at the Golden Gate in Sausalito, California
Lisa Timbo Appointed General Manager of JW Marriott Chicago
Sonnenblick-Eichner Company Arranges $25,250,000 Financing for the Acquisition of Old No. 77 Hotel & Chandlery, New Orleans, Louisiana
Sonnenblick-Eichner Company Arranges $38,000,000 of First Mortgage Leasehold Financing for Marina Del Rey Hotel, Marina Del Rey, California
Sonnenblick-Eichner Company Arranges $65 Million of First Mortgage Financing for the Marriott Monterey Hotel in Monterey, CA
Sonnenblick-Eichner Company Arranges $27,000,000 of First Mortgage Financing for Cedarbrook Lodge, SeaTac - Seattle, Washington
Sonnenblick-Eichner Company Arranges $236,750,000 of First Mortgage Financing for Seven Provenance Hotels
Sonnenblick-Eichner Company Arranges $65,200,000 of First Mortgage Financing for the Hyatt House Seattle Redmond, Washington and The Hyatt House Seattle Bellevue, Washington
Sonnenblick-Eichner Arranges $49,655,000 of First Mortgage Financing for Beechwood Hotel Portfolio
Sonnenblick-Eichner Arranges $153,150,000 of First Mortgage Financing for Pacifica Hotel Portfolio
JW Marriott Chicago Welcomes Two New Directors to its Hotel Team
Sonnenblick-Eichner Arranges $13,500,000 of First Mortgage Financing for Hotel Mazarin, New Orleans
Sonnenblick-Eichner Arranges $14,700,000 First Mortgage Financing For Sanctuary Beach Resort
Sonnenblick-Eichner Arranges $24,650,000 of First Mortgage Financing for Hotel Murano, Tacoma, WA
Sonnenblick-Eichner Company Arranges $41,100,000 of First Mortgage Financing for Two Properties
Sonnenblick-Eichner Company Arranges $23M Financing for The Surfsand Resort in Cannon Beach, Oregon
Please login or register to post a comment.