Sonnenblick Eichner Company arranged $153,150,000 of 10-year fixed rate, first mortgage financing for a portfolio of 10 properties totaling 739 rooms. The loans were non-recourse and are not cross-collateralized. The portfolio is comprised of a collection of oceanfront hotels located on the central coast of California, as well as properties in Venice, Marina del Rey and Manhattan Beach, Calif., and a property in Port St. Lucie, Fla.
The portfolio includes the following properties:
- Fireside Inn on Moonstone Beach, Cambria, Calif.
- FogCatcher Inn, Cambria, Calif.
- Pelican Inn & Suites, Cambria, Calif.
- Cottage Inn by the Sea, Pismo Beach, Calif.
- Sandcastle Inn, Pismo Beach, Calif.
- Spyglass Inn, Pismo Beach, Calif.
- Inn at Venice Beach, Venice, Calif.
- Inn at Marina del Rey, Marina del Rey, Calif.
- The Belamar Hotel, Manhattan Beach, Calif.
- Hilton Garden Inn at PGA Village, Port St. Lucie, Fla.