Portland, Ore.<\/strong>\u2014Sonnenblick-Eichner Co. has secured $41 million in mortgage financing for Hotel Eastlund, a 168-key hotel in Portland. The 10-year, fixed-rate loan was provided by an international money center bank.<\/p>\nHotel Eastlund is a six-story hotel across the street from the Oregon Convention Center in the burgeoning Lloyd District of Portland. The hotel features amenities such as rooftop dining at Altabira City Tavern, state-of-the-art fitness center, 24-hour business center and free Wi-Fi. Additional amenities include more than 5,300 square feet of flexible meeting and event space, including a grand ballroom, two conference rooms and two private dining rooms. The hotel also includes approximately 1,000 square feet of retail space and approximately 131 parking spaces.<\/p>\n
\u201cThe hotel recently completed an extensive renovation and rebranding and had limited operating history at the time of the closing of the new loan,\u201d Elliot Eichner, principal of Sonnenblick-Eichner Co., said in a statement.\u00a0\u201cBy underwriting the most recent trailing 12-month cash flow, we were able to maximize loan proceeds. \u00a0We were also successful in negotiating two years of interest-only payments.\u201d<\/p>\n
Images courtesy of Hotel Eastlund<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"The company provided a 10-year, fixed-rate loan for the 168-key hotel from an international money center bank.<\/p>\n","protected":false},"author":436,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21742,28440,15],"tags":[33474],"class_list":["post-1004168651","post","type-post","status-publish","format-standard","hentry","category-deals","category-hotel","category-latest","category-portland","category-west","tag-sonnenblick-eichner-company"],"acf":[],"yoast_head":"\n
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