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...