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Sonnenblick-Eichner Company Arranges Financing
for $130 million Caribbean Resort
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.

"Financing off-shore real estate transactions is far more complex than continental U.S. real estate transactions, since property ownership laws vary and only select institutions have a mandate to lend in the Caribbean," explained Elliot Eichner, a principal of Sonnenblick-Eichner Company.  In addition, the transaction was unique because "we were able to arrange a loan from an institutional lender who also has the option to convert to an equity position within the ownership, which will help 
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.


1901 Avenue of the Stars, Suite 1750
Los Angeles, CA 90067
Fax: 310-286-7710
Also See: Sonnenblick-Eichner Company Arranges $43.35 million in Financing for Two Historic Hotels / May 2004
Sonnenblick-Eichner Company Arranges $22 Million of Permanent Financing for the Maui Coast Hotel, Maui, Hawaii / December 2003
The 500-room WestCoast Anaheim Hotel Obtains $24,500,000 in Leasehold First Mortgage Financing / Nov 2000
Sonnenblick-Eichner Retained to Finance $250 Million St. Regis Monarch Beach Resort / June 2000

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