SAUSALITO, CA—Cavallo Point-The Lodge at the Golden Gate, the Bay Area's first national park lodge, is an iconic 142-room destination luxury resort within Golden Gate National Recreation Area at the northern end of the Golden Gate Bridge. It is located on approximately 45 acres within the 350-acre former Fort Baker military base.
Due to the stunning location of the asset, multiple financing options were presented. In the end, $75 million of first mortgage leasehold financing was secured. The financing was a non-recourse, five-year balance sheet, Libor-based loan provided by an international money center bank, arranged by Sonnenblick-Eichner Co.
“Given the unique nature and irreplaceable location of the property, we were able to attract multiple financing options,” said Elliot Eichner, principal of Sonnenblick-Eichner. “The borrower chose a floating rate balance sheet loan, affording them maximum flexibility.”
The property includes the Murray Circle Restaurant and Farley Bar, more than 25,000 square feet of indoor and outdoor meeting space, an 11,000-square-foot Healing Arts Center and Spa, a retail outlet, a cooking school, and a fitness center.
“Given how low interest rates are today, the borrower was able to pay off the existing higher rate loan on the property, significantly lowering their cost of capital,” Eichner tells GlobeSt.com.
In 2015, Cavallo Point was recognized by Travel + Leisure Magazine as the best hotel in the Bay Area and ninth best hotel in the world.
“The excellent sponsorship and management team augmented the significant lender interest in the financing,” added Patrick Brown, also a principal of Sonnenblick-Eichner.
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in New York City. Learn more.
SAUSALITO, CA—Cavallo Point-The Lodge at the Golden Gate, the Bay Area's first national park lodge, is an iconic 142-room destination luxury resort within Golden Gate National Recreation Area at the northern end of the Golden Gate Bridge. It is located on approximately 45 acres within the 350-acre former Fort Baker military base.
Due to the stunning location of the asset, multiple financing options were presented. In the end, $75 million of first mortgage leasehold financing was secured. The financing was a non-recourse, five-year balance sheet, Libor-based loan provided by an international money center bank, arranged by Sonnenblick-Eichner Co.
“Given the unique nature and irreplaceable location of the property, we were able to attract multiple financing options,” said Elliot Eichner, principal of Sonnenblick-Eichner. “The borrower chose a floating rate balance sheet loan, affording them maximum flexibility.”
The property includes the Murray Circle Restaurant and Farley Bar, more than 25,000 square feet of indoor and outdoor meeting space, an 11,000-square-foot Healing Arts Center and Spa, a retail outlet, a cooking school, and a fitness center.
“Given how low interest rates are today, the borrower was able to pay off the existing higher rate loan on the property, significantly lowering their cost of capital,” Eichner tells GlobeSt.com.
In 2015, Cavallo Point was recognized by Travel + Leisure Magazine as the best hotel in the Bay Area and ninth best hotel in the world.
“The excellent sponsorship and management team augmented the significant lender interest in the financing,” added Patrick Brown, also a principal of Sonnenblick-Eichner.
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in
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