Financing Secured for Unique Golden Gate-Area Hospitality Asset
The property is located at the northern foot of the Golden Gate bridge, on the grounds of the former Fort Baker military base.
By Alex Girda
San Francisco—A hospitality facility in the Golden Gate Bridge area recently received a financing measure totaling $75 million. Sonnenblick-Eichner Co. arranged the financing through an international money center bank. The property in question, namely Cavallo Point-The Lodge at the Golden Gate, is the area’s first ever national park lodge, that in 2015 received awards from Travel + Leisure Magazine.
Cavallo Point
Located within the Golden Gate National Recreation Area on the northern end of the iconic bridge, the 142-key facility offers 25,000 square feet of indor and outdoor meeting space, the Healing Arts Center & Spa that totals 11,000 square feet, a retail outlet, a fitness center, and a cooking school. Cavallo Point occupies a 45-acre lot on the premises of the former Fort Bake military base.
The financing arranged by Sonnenblick Eichner is a non-recourse, five-year balance sheet, LIBOR-based loan. According to Principal Elliot Eichner, the borrower selected a floating-rate balance sheet loan that would allow for a higher degree of flexibility.
Image courtesy of Sonnenblick-Eichner Co.
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