Sonnenblick-Eichner Arranges $80 mil of First MortgageFinancing for Charleston Place
Charleston, South Carolina
Beverly Hills, CA - November 23, 2010 - Sonnenblick-Eichner Company announced that it has arranged $80,000,000 of first mortgage non-recourse financing for Charleston Place, Charleston, South Carolina, on behalf of Orient-Express Hotels Ltd.(NYSE: OEH). The financing was provided by two international banks and is one of the year's largest single asset bank financings for a hotel.
Charleston Place is a premier, 435-room luxury hotel along with 57,000 square feet of high end, boutique retail space situated in the heart of the historical Peninsula District of Charleston, South Carolina. Amenities at the hotel include approximately 37,000 square feet of meeting and banquet facilities; two full-service restaurants, including the award winning Charleston Grill; and a 20,000 square foot state-of-the-art spa and fitness facility. Retailers at the property include Louis Vuitton, Gucci, LaCoste, and Tommy Bahama. Charleston Place has been awarded the “Four-Star” rating by the Forbes Travel Guide and the “Four-Diamond” rating by the American Automobile Association (AAA).
Elliot K. Eichner, Principal of Sonnenblick-Eichner Company commented, “Charleston Place is recognized as one of the top hotels in the United States. That, coupled with the excellent sponsorship of Orient-Express Hotels, resulted in pricing less than 4%”.
Patrick Brown, also a Principal, added, “Due to the emerging liquidity we are experiencing in the capital markets today for all product types, we were able to generate significant interest in this transaction from domestic and international commercial banks, life insurance companies, investment banks, mortgage REITs and real estate debt funds.
This is the third LIBOR-based financing arranged by Sonnenblick-Eichner Company for this property.
About Orient-Express Hotels Ltd.
Orient-Express Hotels Ltd., www.orient-express.com (NYSE:OEH) is a hotel and leisure group focused on the luxury end of the leisure travel market. Orient-Express Hotels currently owns and operates 50 deluxe hotels, restaurants, tourist trains and river cruise ships in 24 countries. Orient-Express acquires distinctive properties in areas of outstanding cultural, historic or recreational interest in order to provide luxury lifestyle experiences for the elite traveler.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
