mortgage lending
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...
Spirides Provides $7 Million in Loans to Refinance Debt & Renovate Two Hotels in Sylva, NC
Spirides Hotel Finance Company | March 29, 2022
TAMPA, FLORIDA—Spirides Hotel Finance Company has successfully provided and the borrower has officially closed $7 million in loans to refinance the existing mortgage debt and fund renovations to the Holiday Inn Express and Clarion Pointe hotels in Sylva, North Carolina. The 67-room Holiday Inn Express Sylva, NC is located at 26 Rufus Robinson Road. Its ownership retained the services of Spirides Hotel Finance Company to provide them with a new conventional mortgage which has a much lower fixed rate of interest than that of their previous mortgage as well as additional funds to perform a comprehensive Holiday Inn Express “Formula Blue...
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...
Knighthead Funding Originates $61 Million Loan to Refinance Dorado Beach, a Ritz-Carlton Reserve, in Dorado Beach, Puerto Rico
Knighthead Funding LLC | March 17, 2021
Greenwich, CT (March 17, 2021) – Knighthead Funding has provided a $61 million first mortgage loan secured by Dorado Beach, a Ritz-Carlton Reserve, in Dorado Beach, Puerto Rico. The five-year, floating-rate, non-recourse loan from Knighthead Funding refinances maturing debt. As the first Ritz-Carlton Reserve Hotel in the Americas and one of only five in the world, Dorado Beach, a Ritz-Carlton Reserve, is one of the most luxurious properties under the Ritz-Carlton Reserve flag. Opened in 2012, Dorado Beach, a Ritz-Carlton Reserve, is situated in the exclusive gated neighborhood of Dorado Beach, on the former Laurence Rockefeller estate...
Sonnenblick-Eichner Company Arranges $20,500,000 of First Mortgage Financing for the Carriage Inn, Sherman Oaks, California
Sonnenblick-Eichner Company | March 19, 2020
Beverly Hills, CA (March 19, 2020) – Sonnenblick-Eichner Company announced today that it has arranged $20,500,000 of first mortgage financing for the 178-room Carriage Inn, located at the intersection of Burbank Boulevard and the San Diego Freeway (I-405) in Sherman Oaks, California. The non-recourse 10-year fixed rate loan was priced at 3.36%, with interest-only payments for the entire loan term. The hotel, affiliated with the Best Western Plus brand, features meeting space, a pool and Jacuzzi, a fitness center and surface parking for 160 cars. The hotel is conveniently located within close proximity to Universal Studios/Hollywood, the ...
