November 15, 2017
Beverly Hills, CA-based Sonnenblick-Eichner Company arranged three separate long-term fixed rate loans totaling $35.4 million for the refinancing of Best Western Plus Hotels located in Lake Tahoe, Sacramento and San Diego, CA.
Representing Vista Investments LLC, a long-time Southern California-based developer and operator of hospitality properties, Sonnenblick-Eichner Company secured $15 million in first mortgage debt on the 100-room Best Western Plus Truckee-Tahoe hotel, and a separate non-cross-collateralized $7 million loan on the 105-room Best Western Plus Rancho Cordova near Sacramento.
A $13.4-million leasehold first mortgage financing on tribal land was also arranged to refinance the 173-room Best Western Plus Marina Gateway in National City, CA.
Sonnenblick-Eichner’s David Sonnenblick says, “There is an abundance of capital, and interest rates are still attractive for hospitality loans of all brands and product types.”
For comments, questions or concerns, please contact Dennis Kaiser