July 11, 2019
Beverly Hills, CA-based Sonnenblick-Eichner Company arranged $29 million in construction financing for the development of the Cambria Hotel Calabasas, a 125-room, select-service hotel in Calabasas, CA. The loan provided funding in excess of 65% of total project costs, and was provided by an international commercial bank.
Sonnenblick-Eichner’s Patrick Brown says, “We received nine financing offers, both non-recourse and recourse, from a variety of lending sources including international, regional and community banks, as well as debt funds.”
Amenities at the hotel will include meeting space, indoor/outdoor dining and a lobby bar, an outdoor pool, a business and fitness center, and surface parking for approximately 150 cars. The site is located on Las Virgenes Road, just one block south of the 101 Ventura Freeway. Construction commenced this week on the project that is expected to deliver in 15 months.
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
For comments, questions or concerns, please contact Dennis Kaiser