SONNENBLICK-EICHNER ARRANGES $60M IN FINANCING
FLORIDA, TENNESSEE AND NORTH CAROLINA — Sonnenblick-Eichner has arranged $60 million in financing for a seven property hotel portfolio in Florida, Tennessee and North Carolina on behalf of Cooper Hotels. The portfolio includes Crowne Plaza Fort Myers, Florida; Doubletree Memphis, Doubletree Murfreesboro, Doubletree Jackson, Doubletree Oak Ridge, and Doubletree Johnson City, all in Tennessee; and Homewood Suites Charlotte, North Carolina. The five-year, interest-only facility was priced at 250 bps. over Libor.