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HAWAII-Southern California real estate players are increasinglymaking Hawaii part of their geographical area. In a recent deal,Los Angeles-based Sonnenblick-Eichner arranged a $41.5 million loanfor the 265-room Maui Coast Hotel in Hawaii, with financingprovided by an unnamed European bank. The ten-year fixed-rate loanreplaces a previous loan arranged by Sonnenblick-Eichner in thefourth quarter of 2003.
"With the compression of spreads coupled with a period ofinterest only payments and 30-year amortization, the borrower wasable to realize significant equity through this refinancing," saysElliot K. Eichner, principal of the firm.
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