LOS ANGELES— The owners of two hotels in California have received a combined total of $68.5 million in financing through the assistance of Sonnenblick-Eichner Co. The two financing deals involved the Sheraton Anaheim Hotel at the Anaheim Resort in Anaheim and the Coast Santa Cruz Hotel in Santa Cruz. Sonnenblick-Eichner arranged $46.5 million in first mortgage leasehold and mezzanine financing for the Sheraton Anaheim, which is currently operating as a Coast-branded hotel. However, the 500-room property will now be renovated, repositioned and rebranded as a Sheraton shortly. A Wall Street investment bank provided the loan. Regarding the Coast Santa Cruz Hotel, Sonnenblick-Eichner obtained $22 million in first mortgage financing for the owners of the 163-room property.
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