sonnenblick-eichner
Sonnenblick-Eichner Company Advises on $35 Million of Interim Leasehold First Mortgage Financing for Moxy Oakland Downtown, Oakland, California
Sonnenblick-Eichner Company | June 14, 2022
Beverly Hills, CA, (June 14, 2022) -- Sonnenblick-Eichner Company announced today that it was the exclusive advisor to the Borrower for the placement of $35 million of first mortgage interim financing for the leasehold interest in the Moxy Oakland Downtown, a 172-room hotel located in the Uptown Arts and Entertainment District of Oakland, California. The hotel opened in March of 2021. Proceeds from this non-recourse financing were used to retire the construction loan and provide fresh capital to advance the hotel towards stabilization. The property was developed by Tidewater Capital and Graves Hospitality and is managed by Graves Hospitali...
Sonnenblick-Eichner Company Arranges $50,000,000 of First Mortgage Financing for the Cliffs Hotel & Spa, Pismo Beach, California
Sonnenblick-Eichner Company | May 11, 2022
Beverly Hills, CA – May 11, 2022 – Sonnenblick-Eichner Company has arranged $50 million of long term fixed rate first mortgage financing for the Cliffs Hotel & Spa, a 162-room, full-service, luxury boutique hotel located on a bluff overlooking the Pacific Ocean in Pismo Beach, California. The non-recourse loan was funded by an investment bank and priced at 4.8 percent with interest-only payments for the entire term of the loan. Proceeds from the loan provided for a return of equity to the Borrower in order to purchase a partnership interest. Located along California’s central coast, the Cliffs Hotel & Spa features direct...
Sonnenblick-Eichner Company Arranges $30,000,000 of First Mortgage Financing for The Inn at the Pier, Pismo Beach, California
Sonnenblick-Eichner Company | April 7, 2022
Beverly Hills, CA - April 7, 2022 - Sonnenblick-Eichner Company has arranged $30 million of long-term, fixed-rate financing for the Inn at the Pier, a 104-room, full-service, luxury boutique hotel located one-half block from the Pacific Ocean in Pismo Beach, CA. The non-recourse loan was funded by a Life Company and priced in the low 4 percent range with interest-only payments for the entire term. Proceeds from the loan also provided for a return of equity to the Borrower. The Inn at the Pier features a full-service restaurant, pool and spa, and the only roof-top bar in Pismo Beach. Other amenities include 1,200 square feet of meeti...
Sonnenblick-Eichner Company Arranges $38,000,000 of Interim First Mortgage Leasehold Financing for The Portofino Hotel & Marina, Redondo Beach, C
Sonnenblick-Eichner Company | July 21, 2021
Beverly Hills, California – July 21, 2021 – Sonnenblick-Eichner Company announced today that it has arranged $38,000,000 of interim first mortgage leasehold financing for The Portofino Hotel & Marina, a 161-room full-service hotel located in Redondo Beach, California. The new five-year floating-rate LIBOR-based loan replaces a maturing loan. The hotel features a full-service restaurant and lounge, lobby bar and indoor/outdoor meeting and event space. Amenities also include an outdoor pool, a jacuzzi and a fitness and business center. The property includes a 181-slip marina and 19 apartments. The hotel is located within Los A...
Sonnenblick-Eichner Company Arranges $30,500,000 of First Mortgage Financing for Little Palm Island Resort & Spa, Florida Keys, Florida
Sonnenblick-Eichner Company | January 12, 2021
Beverly Hills, California – – Sonnenblick-Eichner Company announced today that it has arranged $30,500,000 of interim first mortgage financing for Little Palm Island Resort & Spa, an iconic 30-suite, full service, luxury resort located in Little Torch Key, Florida. The loan refinanced a recently matured fixed rate loan and closed within 30 days of application. Mast Capital and RWN Management provided the financing. The Resort is located on an exclusive 4.12-acre private island in the world famous Florida Keys. Accessibility to the Resort is by private boat from Little Torch Key, located approximately 3 miles to the north. Am...
Sonnenblick-Eichner Company Arranges $17,750,000 of Interim First Mortgage Financing for The Normandy Hotel, Washington, D.C.
Sonnenblick-Eichner Company | January 28, 2020
Beverly Hills, California – January 28, 2020 – Sonnenblick-Eichner Company announced today that it has arranged $17,750,000 of interim first mortgage financing for The Normandy Hotel, a six-story, 75-room boutique hotel located in the upscale Kalorama district of Washington, D.C. The Kalorama district is one of Washington, D.C.’s most desirable neighborhoods, located just blocks from Dupont Circle, and minutes from the White House, Capitol Hill, Smithsonian Museums, National Zoo and the Walter E. Washington Convention Center. The non-recourse LIBOR-based loan has a term of 5 years and paid off an existing acquisition and renovation l...
Sonnenblick-Eichner Company Arranges Interim Leasehold First Mortgage Financing for Residence Inn by Marriott Walnut Creek, Walnut Creek, California
Sonnenblick-Eichner Company | January 15, 2020
Beverly Hills, CA – January 15, 2020 – Sonnenblick-Eichner Company has arranged interim first mortgage leasehold financing for the Residence Inn by Marriott Walnut Creek, located in Walnut Creek, CA. The non-recourse LIBOR-based loan funded upon completion of construction and the opening of the hotel. The Residence Inn by Marriott Walnut Creek is a 160-room, six-story, extended-stay hotel located in the heart of downtown Walnut Creek. The 77% loan-to-cost loan with a credit spread in the low 300s over LIBOR, provided a return of cash equity to the borrower and relieves them of the recourse obligations associated with the construction l...
Sonnenblick-Eichner Company Arranges $13,750,000 of Construction and Interim Financing for L’Horizon Resort & Spa, Palm Springs, CA
Sonnenblick-Eichner Company | October 23, 2019
Beverly Hills, CA (October 23, 2019) -- Sonnenblick-Eichner Company has arranged $13.75 million in construction and interim financing for the world-renowned L’Horizon Resort and Spa, a full-service, luxury resort located in Palm Springs, CA. The five-year LIBOR-based loan provides funds to refinance the existing debt on the 25-room resort as well as for the ground-up construction of an additional 24 bungalow-style guestrooms on an adjacent parcel. Widely considered one of the premiere destinations in Palm Springs, L’ Horizon Resort and Spa was ranked #1 Resort in the United States in 2018 and #2 in the world in 2019, according to Co...
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