of Permanent Financing for the Maui Coast Hotel,
|Los Angeles, California, December 2003
- Sonnenblick-Eichner Company announced today that it has arranged $22,000,000
in long-term, fixed-rate first mortgage financing for the 265-room
Maui Coast Hotel in Maui, Hawaii.
Elliot K. Eichner, Principal of Sonnenblick-Eichner Company commented, "Due to the hotel's tremendous operating success over the past 4 years, with annual occupancy in excess of 85%, we had significant lender interest and were able to provide a cost of capital of less than 6.75%"
Added Patrick Brown, Executive Director of Sonnenblick-Eichner Company, "Since Maui captured over 23% of total mainland lift going to Hawaii this year, it is not surprising that it achieved the highest ADRs in the state of Hawaii."
Sonnenblick-Eichner Company (www.sonneich.com) is a Los Angeles-based real estate investment banking firm that specializes in the financing and sale of institutional quality commercial real estate. Other transactions recently completed by Sonnenblick-Eichner Company include:
1801 Avenue of the Stars, Suite 1020
Los Angeles, CA 90067
Media Contact: Colette Schamet
|Also See:||The 500-room WestCoast Anaheim Hotel Obtains $24,500,000 in Leasehold First Mortgage Financing / Nov 2000|
|Sonnenblick-Eichner Retained to Finance $250 Million St. Regis Monarch Beach Resort / June 2000|