Sonnenblick-Eichner Company Arranges $21,000,000 of First Mortgage Financing for Cotton Court, Lubbock, Texas
Article - Sonnenblick-Eichner Company Arranges $21,000,000 of First Mortgage Financing for Cotton Court, Lubbock, Texas - The five-year, fixed-rate loan is non-recourse and was funded by a Wall Street investment bank. The loan is interest-only for the entire term at an interest rate of 7.6%. A rate buydown was required by the lender to achieve this rate and proceeds.
Source: hotelnewsresource.com
