Lone StarCourt is a 123-room boutique hotel located within TheDomain.
AUSTIN, TX—First mortgage debt was recently secured to refinancethe Lone Star Court, a 123-room boutique hotel located within TheDomain, a 303-acre master-planned development. The CMBS loan,funded by a Wall Street investment firm and arranged bySonnenblick-Eichner Company, pays 3.49% interest only over theentire 10-year term. Loan proceeds were utilized to retire existingdebt and provide working capital.
"The lower cost of capital on this interest-only loan will helpthe borrower to manage his cash flows in this extremely difficultenvironment," David Sonnenblick, a principal of Sonnenblick-EichnerCompany, tells GlobeSt.com.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
