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$110M Financing Arranged for InterContinental San Francisco
Beverly Hills, CA-based Sonnenblick-Eichner Company arranged $110-million in first mortgage financing to refinance the InterContinental San Francisco, a 32-story, 550-room hotel adjacent to the Moscone Convention Center in the SoMa district. The interest rate for this 10-year, non-recourse fixed rate loan is in the low 4% range, and was priced at less than 200 basis points over the swap rate. The loan was funded by a Wall Street investment bank.
Sonnenblick-Eichner Company’s David Sonnenblick says, “We received interest from both Life Insurance Companies and Wall Street investment banks. Given the interest rate floors instituted by most Life Insurance Companies, a securitized loan provided the best execution for the borrower.”
The Four-Diamond, AAA-rated hotel includes 43,000 square feet of meeting, banquet and pre-function space; Luce, a Michelin rated restaurant; a 10,000 square-foot spa, and subterranean parking accommodating 180 valet spaces.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


