Sonnenblick-Eichner Co. Arranges $50 Million Construction Loan for Luxury Resort Development in Moab, Utah

USA, Beverly Hills, California. February 08, 2023

Sonnenblick-Eichner Company has arranged $50 million of construction financing for Phase I of the Lionsback Resort in Moab, Utah, a 175-acre development located adjacent to internationally renowned Canyonlands and Arches National Park in eastern Utah.

Proceeds from this fixed-rate, non-recourse construction loan will be used to complete the Phase I onsite infrastructure improvements and vertical construction of the initial 34 single family homes, as well as the horizontal infrastructure of Phase II. To be built over five phases, at build-out, the $350 million development will include 188 single-family residences "Casitas" and a luxury, destination resort hotel.

The project will be the first luxury residential development in the city of Moab.

"Given the unique location of the site and the strict barriers to entry, we were successful in procuring a lender that provided a non-recourse loan at 85% of cost," said Elliot Eichner, a Principal of Sonnenblick-Eichner Company.

"Our client spent 16 years to obtain the entitlements to build this project in one of our country's most beautiful natural environments," added David Sonnenblick, a Principal of Sonnenblick-Eichner Company, "We were fortunate, given the uncertainty in the market, to be able to identify a lender who understood the viability of this special development."


3DQ Studio
/ SLIDES
Tags: Sonnenblick-Eichner, hospitality, hotel, financing, commercial real estate, CRE, loan, resort development,

About Sonnenblick-Eichner Company

Business Contact:

Bruce Beck
President
DB&R
T: +1 805-777-7971
E: [email protected]
W: http://www.dbrpr.com
Follow us on Twitter: https://twitter.com/@dbrbruce

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 April 2023...

Guest Service: Exceeding Expectations


When guests check into a hotel, they have expectations of quality customer service. They expect to have their needs met in a professional manner, they desire a certain level of comfort, and possibly even made to feel a little special. This is important because satisfied guests are more likely to return and to become true brand ambassadors. But what if instead of merely meeting expectations, hotels created a culture of service that was intent on exceeding expectations in every conceivable way? What if frontline staff were trained and empowered to provide guest services that demonstrate a willingness to always go the extra mile in order to please their guests? This culture is exactly what some hotels are creating in their operations. From helpful, smiling, welcoming staff to the quality of  a room's comfort and conveniences. From discovering a guest's special needs and enthusiastically fulfilling them, to making some amenities free of charge and offering random upgrades. The April issue of the Hotel Business Review will explore what some hotels are doing to enhance and enrich their guest services.