Sonnenblick-Eichner Company has arranged a $24 million first-mortgage refinancing for Cedarbrook Lodge, a boutique hotel property in Seattle, Washington. The new financing replaces an existing long-term fixed-rate loan that the advisory firm previously put in place for the same borrower, according to company principals quoted in the announcement.
The capital was structured as a non-recourse, floating-rate interim loan with a five-year term and was provided by a private real estate debt fund. Sonnenblick-Eichner reported that the marketing process generated interest from multiple lenders before the borrower selected the private debt fund, citing the funding source’s ability to deliver on the agreed terms and offer structural flexibility within the loan.
Cedarbrook Lodge is described as a 167-room boutique hotel set on seven acres of restored wetlands located less than two miles east of Seattle-Tacoma International Airport. The hotel offers 17,000 square feet of meeting space, a 1,600-square-foot fitness center, and a 3,000-square-foot spa, along with on-site food and beverage at the Copperleaf Restaurant & Bar. The combination of lodging, meeting, wellness, and dining amenities positions the property to serve both travelers and group business.
In discussing the execution, Sonnenblick-Eichner Company Principal Elliot Eichner attributed the level of lender interest to the hotel’s positioning and the sponsorship behind the asset, noting that the competitive bidding environment allowed the borrower to focus on certainty of close and loan structure. Fellow Principal Patrick Brown highlighted that the firm has now arranged multiple financings for Cedarbrook Lodge, including both the prior fixed-rate loan and the new interim facility, underscoring an ongoing advisory relationship with the borrower.
The transaction illustrates continued availability of non-recourse, floating-rate debt from private real estate funds for hospitality assets with established operating histories. It also reflects the willingness of specialty lenders to provide intermediate-term capital solutions for hotel owners seeking to refinance maturing or legacy fixed-rate loans while maintaining operational and capital structure flexibility.
