Sonnenblick-Eichner Company Arranges $30.5 Million Loan to Refinance 30-Suite Luxury Resort in Florida Keys

USA, Beverly Hills, California. January 18, 2021

Sonnenblick-Eichner Company announced today that it has arranged $30.5 million of interim first mortgage financing for Little Palm Island Resort & Spa, an iconic 30-suite, full-service, luxury resort located in Little Torch Key, FL.

The loan refinanced a recently matured fixed-rate loan and closed within 30 days of application. Mast Capital and RWN Management provided the financing.

The Resort is located on an exclusive 4.12-acre private island in the world famous Florida Keys. Accessibility to the Resort is by private boat from Little Torch Key, located approximately three miles to the north. Amenities at the Resort include a full-service fine dining ocean-front restaurant, SpaTerre, a fitness center, dive shop and a swimming pool and an adjacent Palapa Bar. Additionally, the Resort features a Marina with three separate docks that can accommodate yachts up to 120 feet in length. The Resort has been consistently recognized as one of the top destination resorts in the world. Condé Nast Traveler and Reader's Choice Awards recently ranked the Resort in their "Top 10 Resorts in the U.S." and "Best Resorts in the World for 2020".

"Little Palm Island is a one-of-a-kind resort. We were able to generate multiple financing quotes given the property's stellar performance in its "drive-to-leisure" destination location, as well as the top-tier sponsorship. Mast Capital was able to deliver strong execution and close expeditiously," commented Elliot Eichner, a Principal of Sonnenblick-Eichner Company.

"The amount of lender interest in the financing opportunity demonstrates the large degree of liquidity in the market today for well positioned assets," commented Patrick Brown, also a Principal of Sonnenblick-Eichner Company.


Little Palm Island Resort
/ SLIDES
Tags: Sonnenblick-Eichner Company, hotel finance, hospitality, Little Palm Island Resort, real estate finance, finance,

About Sonnenblick-Eichner Company

Media Contact:

Bruce Beck
President
DB&R
T: +1 805-777-7971
E: bruce@dbrpr.com
W: http://www.dbrpr.com

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in October 2021...

Revenue Management: Monetizing All Offerings


Of all the departments within hotel operations, Revenue Management may have been the hardest hit, due to the pandemic. The logic goes - no revenue, no need for revenue managers - so many industry professionals were furloughed. If business rebounds in 2021, as expected, then hotel management will have to determine when prevailing occupancy levels justify bringing back their revenue management team. Also, the pandemic seems to have exposed some weaknesses in the traditional RevPAR models. There is a growing understanding that it is no longer sufficient to use a "revenue per available room" model; instead, hotels are adopting a TRevPAR model (total revenue per available room). This model recognizes that revenue streams from other departments are just as important as the revenue gained from rooms. As a result, hotels are looking at ways to monetize any and all hotel offerings - from dining outlets and spas to outdoor function spaces and local partnerships. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.