BEVERLY HILLS, CA-Sonnenblick-Eichner Company say it has arranged $41.1 million of first mortgage acquisition financing for the Hilton Concord and Sheraton Orlando North hotels, located in Concord, CA and Maitland, FL, respectively. The LIBOR-based loan was funded by a money center commercial bank.
The Hilton Concord is an 11-story, 329-room, full service hotel that was recently recognized with Clifornia's Governor's Environmental and Economic Leadership Award, and the first Hilton branded hotel to win this award.
The 390-room Sheraton Orlando North was significantly renovated from 2006 to 2011, positioning it as one of the better hotels in this Orlando sub-market. An additional renovation and the appointment of Interstate Hotels and Resorts as hotel manager will allow the Sheraton to further realize its full potential profitability.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
