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ANGUILLA-Sonnenblick-Eichner has arranged $236 million in construction financing for the Viceroy Anguilla Resort and Residences on the Caribbean island of Anguilla. The financing was obtained from a US bank and closed without any syndication contingencies. The company also arranged the initial land loan for the acquisition of the un-entitled development site. The project is being developed by LA-based Kor Hotel Group and Lubert-Adler.

The five-star, $300-million development comprises 172 fully furnished luxury units including oceanfront villas, townhouses, condominiums, and a 90-room hotel. Resort amenities will include a full-service spa, restaurants and bars, three infinity edge pools and tennis courts.

“Due to the tremendous amount of capital available in the marketplace, we were able to obtain non-recourse construction financing proposals from multiple institutional lenders,” says David Sonnenblick. “The borrower decided to pursue a financing that had no syndication contingencies and could close in less than 45 days.”

The Anguilla Resort is Kor’s first overseas exportation of the Viceroy signature design and services and its first expansion into the growing industry of mixed development resort-residential scheme.s Construction is due to be completed in 2008.

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