old no 77 hotel chandlery
Gencom & Corten Close Venture With Provenance Hotels to Acquire Eight-Hotel Portfolio
Gencom | December 20, 2022
MIAMI, FL, WILMINGTON, DE and PORTLAND, OR – December 20, 2022 – Affiliates of Gencom, an international owner and developer of hospitality and residential properties, and Corten, a Mid-Atlantic based private real estate investment fund manager, today announced the closing of a strategic venture with Provenance Hotels, an independent owner of boutique hotels. Under the venture, a Gencom-led partnership has acquired a 50 percent ownership stake in eight hotels across the United States, expanding the Miami-based firm’s portfolio by more than 1,400 rooms and suites. In a related transaction, Gencom affiliate Pyramid Global Hospitality,...
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 $25,250,000 Financing for the Acquisition of Old No. 77 Hotel & Chandlery, New Orleans, Louisiana
Sonnenblick-Eichner Company | July 20, 2016
Beverly Hills, CA - July 20, 2016 – Sonnenblick-Eichner Company has arranged $25,250,000 of first mortgage debt to finance Provenance Hotel Partners' ("PHP") acquisition of Old No. 77 Hotel & Chandlery, a historic 167-room, full-service boutique hotel in New Orleans. PHP was part of the investment group that, in 2014, purchased and successfully rebranded the former Ambassador Hotel at 535 Tchoupitoulas in the city's Warehouse Arts District, only blocks from the French Quarter. The hotel re-launched as Old No. 77 & Chandlery in June 2015 following an extensive $14 million renovation. The hotel will be managed by Provenance ...
