Sonnenblick-Eichner Company The first mortgage loan of $22.6 million has been arranged on behalf Valencia Hotel Group To refinance the Hotel Valencia Riverwalk. A 12-story luxury hotel with 213 rooms on the Riverwalk downtown San Antonio.
The Valencia Hotel Collection includes 9,841 sq. Meeting and event space of 9,841 sq. Food and beverage offerings include signature restaurant Dorrego’s; Naranja Tequilla and Mezcal Bar; and Café Naranja.
Sonnenblick-Eichner principal David Sonnenblick said, “We received tremendous interest from lenders in this funding opportunity. We ultimately closed a fixed-rate five-year loan that was sized at a low yield on debt for a hotel with a ground-lease.”
Patrick Brown, principal at Sonnenblick-Eichner added: “The loan was refinanced to pay off a 10-year loan we had originally made on the property.” As evidenced by our interest in this transaction, and the other hotel loans we are marketing, debt markets for fixed-rate and floating-rate loans are very liquid.
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