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$92M Refi Secured for 592-Key Hotel Portfolio

Sonnenblick-Eichner Co. secured $92 million in first-mortgage debt to refinance a 592-room portfolio owned by Lodgeworks Partners LP in Wichita, KS. The portfolio features Hyatt House properties in Virginia and Pennsylvania, a Hilton Garden Inn in Albany, NY and the Archer Hotel in Austin, TX.

The financing consisted of four separate non-recourse, non-cross collateralized loans from three different lenders. Sonnenblick-Eichner arranged 10-year fixed financing on each of the two Hyatt House properties, and LIBOR-based floating rate financing from two regional banks on the Archer and Hilton Garden Inn properties.

The portfolio consists of:

  • 171-Room Archer Hotel, 3121 Palm Way, Austin, TX
  • 148-Room Hyatt House Falls Church/Merrifield, 8296 Glass Alley, Fairfax, VA
  • 147-Room Hyatt House Philadelphia/King of Prussia, 240 Mall Blvd., King of Prussia, PA
  • 126-Room Hilton Garden Inn, 1389 Washington Ave., Albany, NY

For comments, questions or concerns, please contact Amy Sorter


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