sonnenblick-eichner

Sonnenblick-Eichner Company Arranges $29,000,000 of Construction Financing for Cambria Hotel Calabasas, Calabasas, California

Sonnenblick-Eichner Company | July 10, 2019

Beverly Hills, CA (July 9, 2019) – Sonnenblick-Eichner Company announced today that it has arranged $29,000,000 of construction financing for the Cambria Hotel Calabasas, a 125-room, select-service hotel to be located on Las Virgenes Road, just one block south of U.S. Highway 101/Ventura Freeway in Calabasas, CA. Amenities at the hotel will include meeting space, indoor/outdoor dining and a lobby bar, an outdoor pool, a business and fitness center, and surface parking for approximately 150 cars. The loan provided funding in excess of 65% of total project costs and was provided by an international commercial bank. The hotel’s excelle...

Sonnenblick-Eichner Company Arranges $21,000,000 of First Mortgage Leasehold Financing for Palihotel Seattle, Washington

Sonnenblick-Eichner Company | May 14, 2019

Beverly Hills, CA (May 14, 2019) – Sonnenblick-Eichner Company announced today that it has arranged $21 million of non-recourse first mortgage leasehold financing, on behalf of a partnership between Los Angeles based Lighthouse Investments, LLC and KCB Management, for the 96-room Palihotel Seattle. Operated by Palisociety, the hotel is located across the street from the world-famous Pike Street Market in downtown Seattle, WA. The newly renovated hotel opened in November of 2018 and the initial funding was sized to a debt yield less than 6% on the first year's projected net operating income. The five-year interim loan also provided...

Sonnenblick-Eichner Arranges $36.3M of Acquisition Financing for Doubletree by Hilton Hotel Campbell Pruneyard Plaza Campbell (Silicon Valley), Ca

Sonnenblick-Eichner Company | April 2, 2019

Beverly Hills, CA (April 2, 2019) – Sonnenblick-Eichner Company announced today that it has arranged $36.3 million of first mortgage financing for the acquisition of the DoubleTree by Hilton Hotel Campbell – Pruneyard Plaza, a 169-room, full service hotel located in downtown Campbell, California. The long-term, fixed-rate loan facilitated the acquisition of the property and provides funds for a $5.8 million renovation of the property. The 12-year loan was provided by a life insurance company and was priced at 4.48% with four years of interest-only payments followed by amortization on a 30-year schedule. The Hotel has an irre...

Sonnenblick-Eichner Company Arranges $26,500,000 of First Mortgage Financing for The Inn at the Pier, Pismo Beach, California

Sonnenblick-Eichner Company | February 26, 2019

Beverly Hills, (February 26, 2019) – Sonnenblick-Eichner Company has arranged $26.5 million of interim first mortgage debt to refinance the Inn at the Pier, a new 104-room, full-service luxury boutique hotel located one-half block from the Pacific Ocean in the heart of Pismo Beach, California. The non-recourse interim loan was provided by a debt fund. The loan was priced in the mid-300s over 30-day LIBOR and provided for a return of equity to the Borrower. The Inn at the Pier, which opened in November of 2017, features a full-service restaurant, pool and spa, and the only roof-top bar in Pismo Beach. Other amenities include 1,200 ...

Sonnenblick-Eichner Company Arranges $29,200,000 of First Mortgage Financing for the Old No. 77 Hotel & Chandlery, New Orleans, LA on Behalf of Proven

Sonnenblick-Eichner Company | September 25, 2018

Beverly Hills, CA (September 25, 2018) -- Sonnenblick-Eichner Company has arranged $29,200,000 of interim first mortgage financing to refinance the Old No. 77 Hotel & Chandlery, a historic 167-room, full-service boutique hotel located in the heart of the Warehouse Arts District, just a few blocks from the French Quarter in New Orleans. The five-year floating rate loan was priced over LIBOR at a spread in the mid-300s. Loan proceeds are being used to refinance the existing acquisition loan, as well as provide a return of equity to the borrower. In June of 2015, the Hotel completed an extensive $14,000,000 ($94,000 per room) renovatio...

Sonnenblick-Eichner Company Arranges $50,000,000 of First Mortgage Financing for Hotel Theodore, Seattle, Washington on Behalf of Provenance Hotels

Sonnenblick-Eichner Company | July 25, 2018

Beverly Hills, CA (July 25, 2018) – Sonnenblick-Eichner Company announced today that it has arranged $50,000,000 of interim first mortgage financing to refinance Hotel Theodore, a 20-story, 153-room, full-service, luxury boutique hotel located at the corner of 7th Avenue and Pine Street, in the heart of downtown Seattle, Washington, one block west of the Washington State Convention Center. The floating rate loan was sized to a debt yield of less than 6% and priced over LIBOR at a spread in the mid-300s. Loan proceeds are being used to refinance the existing acquisition and renovation loan as well as provide a return of equity to the borr...

Sonnenblick-Eichner Company Arranges $60,000,000 of Financing for The St. Regis Deer Valley, Park City, Utah

Sonnenblick-Eichner Company | January 16, 2018

Beverly Hills, California – January 16, 2018 – Sonnenblick-Eichner Company announced today that it has arranged $60 million of financing for The St. Regis Deer Valley (www.stregisdeervalley.com), a year-round destination resort located on the slopes of the world renowned Deer Valley ski area in Park City, Utah. The St. Regis Deer Valley offers 67 hotel condominium suites divisible into 177 hotel keys and 25 private whole-ownership residences. The ski-in, ski-out resort is considered among the finest destination ski resorts in the world. Amenities at the resort include the 14,000 square-foot Remède Spa and fitness faci...

Sonnenblick-Eichner Company Arranges $110,000,000 of First Mortgage Financing for InterContinental San Francisco

Sonnenblick-Eichner Company | January 10, 2018

Beverly Hills, California – January 10, 2018 – Sonnenblick-Eichner Company announced today that it has arranged $110 million of first mortgage financing to refinance the InterContinental San Francisco, a 32-story, 550-room hotel located adjacent to San Francisco's Moscone Convention Center in the South of Market district (SOMA) of downtown San Francisco, California. The Four-Diamond, AAA-rated hotel includes 43,000 square feet of meeting, banquet and pre-function space; Luce, a Michelin rated restaurant; a 10,000 square-foot spa and subterranean parking accommodating 180 valet spaces. The interest rate for this 10-year, non-...