fixed rate loan
Sonnenblick-Eichner Company Arranges $26,750,000 of First Mortgage Financing for Two Northern California Hotels
Sonnenblick-Eichner Company | January 10, 2023
Beverly Hills, CA – January 10, 2023 -- Sonnenblick-Eichner Company, on behalf of Woodside Hotel Group, has arranged $26,750,000 of non-cross collateralized, fixed rate, first mortgage financing for the Lafayette Park Hotel & Spa and The Lodge at Bodega Bay, located in Lafayette and Bodega Bay, California, respectively. The $15 million loan on the Lafayette Park Hotel retired an existing life insurance company loan and provided for over $4 million of capital to renovate the guestrooms. Proceeds from the $11.75 million loan on The Lodge at Bodega Bay paid off an existing bridge loan facility and provided for a return of partnership...
Sonnenblick-Eichner Company Arranges $22 Million of First Mortgage Leasehold Financing for DoubleTree by Hilton Los Angeles-Commerce, Los Angeles, CA
Sonnenblick-Eichner Company | November 29, 2022
Beverly Hills, CA (November 29, 2022) -- Sonnenblick-Eichner Company announced today that it has arranged $22 million of non-recourse first mortgage financing for the leasehold interest in the Doubletree by Hilton Los Angeles-Commerce, a 201-room hotel located in the city of Commerce, approximately six miles southeast of downtown Los Angeles. The five-year loan was placed with an international money-center bank at a fixed interest rate of 5.9% for the entire term. Proceeds were used to pay off a maturing CMBS loan and provided for a return of equity to the partnership. Amenities at the hotel include a full-service restaurant and bar...
