Sonnenblick-Eichner arranges $27M in financing for Seattle lodge

Cedarbrook Lodge Seattle

Sonnenblick-Eichner Company arranged $27 million of first mortgage financing for the 167-room Cedarbrook Lodge, SeaTac in Seattle.

The 10-year fixed rate, non-recourse financing was priced in the mid 4-percent range with interest-only payments for the entire term of the loan.

The hotel is located on seven acres of restored natural wetlands and is less than two miles from SeaTac International Airport. Amenities at the hotel include over 17,000 square feet of meeting space and a 1,600-square-foot fitness center. Additionally, the hotel is home to “The Spa” and the Copperleaf Restaurant & Bar.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“Despite the volatility in the capital markets over the last couple of weeks, we were successful in getting the lender to hold their spread and close the loan in the mid 4 percent range with full term interest-only,” said Elliot Eichner, a principal of Sonnenblick-Eichner Company.  

“We are seeing no shortage of mortgage capital for all product types, including independent branded hotels such as the Cedarbrook Lodge,” said Patrick Brown, also a principal of Sonnenblick-Eichner Company.

Suggested Articles

The brand's debut Room8 Design Challenge is meant to bring a fresh perspective to shared hotel accommodations.

With more than 50 hotels open in 10 states, the India-based startup is looking to open a hotel per day across the country.

The joint-venture partners have given a name to the upper-midscale brand they introduced in February.