Sonnenblick-Eichner Co. Arranges $75M Refinancing for Monterey Marriott

The loan is a non-recourse, fixed-rate, five-year loan and is interest-only for the term. The all-in rate to the Borrower was less than 6 percent. The hotel has 341 rooms and offers 16,500 square feet of meeting and event space, a fitness center, and an outdoor pool and jacuzzi. The hotel is located across the street from the Monterey Conference Center. Quotes: "The non-recourse, fixed-rate, five-year loan is interest-only for the term", "resulting in an all-in rate to the Borrower of less than 6 percent", "The 341-room full-service hotel offers 16,500 square feet of meeting and event space, a fitness center, and an outdoor pool and jacuzzi.", "The hotel is located across the street from the Monterey Conference Center."