Sonnenblick-Eichner Co. has arranged a $50 million permanent loan from Goldman Sachs against the 162-room Cliffs Hotel & Spa in Pismo Beach, Calif. The loan requires only interest payments for its full term and pays a coupon of 4.8 percent. It allowed the property’s long-time owner, a partnership involving King Ventures, to refinance a $19.27 […]

The post Sonnenblick-Eichner Arranges $50Mln Goldman Loan for Calif. Hotel appeared first on Commercial Real Estate Direct.