sonnenblick-eichner company
Sonnenblick-Eichner Company Arranges Strategic Joint Venture Equity Investment for Pacific City Lodging Portfolio, Pacific City, Oregon
Sonnenblick-Eichner Company | April 22, 2024
Los Angeles, CA – April 22, 2024 – Sonnenblick-Eichner Company has arranged a strategic joint venture equity investment into the ownership entity of the Pacific City Lodging Portfolio, located in Pacific City, Oregon. The Pacific City Lodging Portfolio is an irreplaceable collection of iconic oceanfront resort properties comprised of the Headlands Coastal Lodge & Spa, the Inn at Cape Kiwanda, Hart’s Camp, and the Cape Kiwanda RV Park. Noble House Hotels & Resorts of Kirkland, Washington provided the investment into the partnership. This investment from Noble House allowed the existing ownership an opportunity to realize equit...
Sonnenblick-Eichner Company Arranges $19,500,000 of First Mortgage Financing for Texican Court, Irving, Texas
Sonnenblick-Eichner Company | April 2, 2024
Los Angeles, California – Sonnenblick-Eichner Company on behalf of Valencia Hotel Group, has arranged $19.5 million of first mortgage debt to refinance the Texican Court hotel in Irving, Texas. The non-recourse five-year, fixed-rate loan was funded by a Wall Street investment bank. The loan is interest-only for the entire term at an interest rate of 7.74%, which included a buydown of the rate required by the lender. Built in 2019, the 152-room upscale boutique hotel features a retro-aesthetic design of the mid-century motor court with elements inspired by “Old Texas” architecture. Amenities include a full restaurant, poolside bar,...
Sonnenblick-Eichner Company Arranges First Mortgage Financing for The Lodge at Tiburon and Toll House Hotel Los Gatos, California
Sonnenblick-Eichner Company | October 24, 2023
Beverly Hills, CA (October 24, 2023) -- Sonnenblick-Eichner Company has arranged first mortgage financing for The Lodge at Tiburon and Toll House Hotel Los Gatos. The 5-year non-recourse floating rate loan pays interest-only for the entire term and provided proceeds to pay off a maturing loan. The new loan also provided for a SOFR floor of 3.75% equating to approximately 155 basis points below the SOFR index at closing allowing the borrower to realize a lower cost of capital if interest rates decline. The 104-room The Lodge at Tiburon and the 115-room Toll House Hotel Los Gatos are boutique hotels located in downtown Tiburon, a coastal ...
Sonnenblick-Eichner Company Arranges $21,000,000 of First Mortgage Financing for Cotton Court, Lubbock, Texas
Sonnenblick-Eichner Company | September 12, 2023
Beverly Hills, California – September 12, 2023 – Sonnenblick-Eichner Company has arranged $21 million of fixed-rate, first mortgage financing for the Cotton Court hotel located in Lubbock, Texas. The five-year, fixed-rate loan is non-recourse and was funded by a Wall Street investment bank. The loan is interest-only for the entire term at an interest rate of 7.6%. A rate buydown was required by the lender to achieve this rate and proceeds. The 165-room upscale boutique hotel benefits from its excellent location in downtown Lubbock. It is one mile from both Texas Tech University, a campus with over 40,000 students, and Lubbock’s do...
Sonnenblick-Eichner Company Arranges $100 Million Sale of The Inn at Rancho Santa Fe, Rancho Santa Fe, California
Sonnenblick-Eichner Company | July 25, 2023
Beverly Hills, CA (July 25, 2023) -- Sonnenblick-Eichner Company, on behalf of Steve Hermann Hotels, has arranged a $100 million sale of The Inn at Rancho Santa Fe, an 85-room, full-service, luxury boutique resort located in north San Diego County’s exclusive enclave of Rancho Santa Fe, CA. The resort is undergoing an extensive “top-to-bottom” renovation. When fully operational in the fourth quarter of this year, it will be positioned as one of the most preeminent and exclusive destinations in California. The resort was purchased by an institutional investment fund. “We were able to generate interest in the acquisition given...
Sonnenblick-Eichner Company Arranges Sale of the Cannon’s Hotel Development Site in Dana Point, California
Sonnenblick-Eichner Company | December 13, 2022
Beverly Hills, California (December 13, 2022) --Sonnenblick-Eichner Company announced today that it has arranged the sale of the fee simple interest in the Cannon’s Hotel Development Site in Dana Point, California. The former home of Cannon’s Restaurant, the site is fully entitled and has received California Coastal Commission approval for a 100-room boutique luxury hotel. The property is located on a bluff-top overlooking the Dana Point Harbor and Marina with expansive, panoramic views of the Pacific Ocean and the California Coastline. The property was sold to a private investor. The site is located one block south of Pacific Coa...
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...
Sonnenblick-Eichner Company Arranges $82.425 Million of First Mortgage Financing for the Ocean Key Resort & Spa Key West, FL
Sonnenblick-Eichner Company | September 14, 2022
Beverly Hills, CA (September 14, 2022) -- Sonnenblick-Eichner Company, on behalf of Noble House Hotels & Resorts, has arranged $82.425 million of fixed rate first mortgage financing for the Ocean Key Resort & Spa in Key West, FL. Ocean Key Resort and Spa is a 100-room, full-service, waterfront resort recently honored by Forbes as the Best Luxury Resort in Key West. Proceeds from the five-year, non-recourse loan priced in the low 5% range, will be used to pay off and defease the existing loan and fund a $10.5 million renovation of the property. The life insurance company loan is interest-only for the entire term. Amenities a...
