Sonnenblick-Eichner Company Arranges First Mortgage Financing for Maison Dupuy
BEVERLY HILLS, Ca. – Sonnenblick-Eichner Company, Beverly Hills-based real estate investment banking firm, has arranged $46 million of interim first mortgage financing for the Maison Dupuy, a five-story, 200-room, full-service, boutique hotel located in New Orleans’ French Quarter. Proceeds from the five-year non-recourse LIBOR-based loan will be utilized to pay off the existing indebtedness and provide funds for the renovation of the property. Additional details were shared in a press release.
The hotel offers the highly-rated Bistreaux Restaurant and Bar, an oversized 4,088-square-foot interior courtyard, one of the largest in the French Quarter, an outdoor heated swimming pool and cabanas, fitness center, business center, and 4,173 square feet of meeting and banquet space. It also includes 65 subterranean parking spaces, a rarity in the French Quarter.
“We were successful in attracting numerous competitive financing quotes from a variety of financial institutions for this opportunity,” said Elliot Eichner, Sonnenblick-Eichner Company principal. “We ultimately funded the transaction with a global asset management company that has a dedicated real estate lending platform.”
Sonnenblick-Eichner principal Patrick Brown recalled the company’s other transactions in New Orleans.
“We arranged financing for the Old 77 Hotel in the Warehouse District, the Mazarin Hotel in the French Quarter, and other properties including The Shops at Canal Place, the Doubletree by Hilton New Orleans, as well as the Courtyard by Marriott Downtown/Convention Center and the Springhill Suites Convention Center,” he said.