REBusinessOnline

Sonnenblick-Eichner Co. Arranges $36.3M Acquisition Loan for Silicon Valley Hotel

DoubleTree-Hilton-Hotel-Campbell-CA

DoubleTree by Hilton Hotel Campbell – Pruneyard Plaza in Campbell, Calif., features 169 guest rooms.

CAMPBELL, CALIF. — Sonnenblick-Eichner Co. has secured $36.3 million in first mortgage financing for the acquisition of DoubleTree by Hilton Hotel Campbell – Pruneyard Plaza, a 169-room full-service hotel in downtown Campbell.

The undisclosed borrower used the long-term, fixed-rate loan to facilitate the purchase of the hotel and provide funds for a $5.8 million renovation. The 12-year loan, which a life insurance company provided, features a 4.5 percent interest rate with four years of interest-only payments and a 30-year amortization schedule.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Conferences