LOS ANGELES—Sonnenblick-Eichner Company has arranged $75 million of first mortgage leasehold financing for Cavallo Point-The Lodge at the Golden Gate located in Sausalito, CA. The financing was a non-recourse, five-year balance sheet, LIBOR-based loan provided by an international money center bank.
“Given the unique nature and irreplaceable location of the property, we were able to attract multiple financing options,” said Elliot Eichner, principal of Sonnenblick-Eichner Company. “The borrower chose a floating rate balance sheet loan affording them maximum flexibility.”
“The excellent sponsorship and management team augmented the significant lender interest in the financing,” added Patrick Brown, also a principal of Sonnenblick-Eichner Company.
Cavallo Point, the San Francisco Bay Area’s first national park lodge, is a 142-room destination luxury resort located within Golden Gate National Recreation Area at the northern foot of the Golden Gate Bridge. Located on approximately 45 acres within the 350-acre former Fort Baker military base, the property includes the Murray Circle Restaurant and Farley Bar, more than 25,000 sq. ft. of indoor and outdoor meeting space, an 11,000-sq.-ft. Healing Arts Center & Spa, a retail outlet, a cooking school and a fitness center.