November 15, 2017 Comments Off on Trio of California Best Western Plus Hotels Refi’d Views: 985 California News, National News, West

Trio of California Best Western Plus Hotels Refi’d

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.”

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