Sonnenblick-Eichner Company Arranges First Mortgage Financing for the Lodge at Tiburon and Toll House Hotel Los Gatos, California

BEVERLY HILLS, Calif., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Sonnenblick-Eichner Company has arranged first mortgage financing for The Lodge at Tiburon and Toll House Hotel Los Gatos.

Toll House-hotel-public-exterior

The 5-year non-recourse floating rate loan pays interest-only for the entire term and provided proceeds to pay off a maturing loan. The new loan also provided for a SOFR floor of 3.75% equating to approximately 155 basis points below the SOFR index at closing allowing the borrower to realize a lower cost of capital if interest rates decline.

The 104-room The Lodge at Tiburon and the ...

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