Sonnenblick-Eichner Co. Arranges $26 Million Refinance For Residence Inn By Marriott Walnut Creek

The property involved in this transaction is the Residence Inn by Marriott Walnut Creek, located at 2050 North California Boulevard in the Walnut Creek market. This asset is categorized as a hotel, featuring a total of 160 keys and encompasses six stories designed for extended stays.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $26,000,000
• Loan Type: Refinance
• Loan Terms: fixed-rate, five-year, interest-only
• Broker: Sonnenblick-Eichner Co.

The loan was arranged by Sonnenblick-Eichner Co., which secured a $26 million first mortgage to facilitate the refinance of the hotel. Funding for the loan was obtained from a Wall Street investment bank, and it features nonrecourse terms with interest-only payments for the entire five-year duration.