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 ...