Cushman & Wakefield Sonnenblick Goldman Arranges $212 Million Refinancing

4 May, 2010, New York

Cushman & Wakefield Sonnenblick Goldman's Global Hospitality Group (CWSG), serving as exclusive advisor to FelCor Lodging Trust Incorporated (NYSE: FCH), has arranged a $212 million floating-rate financing for a nine-hotel portfolio aggregating approximately 2,500 rooms.

CWSG professionals Mark Gordon, Jared Kelso, Alison Tan and Ernest Lee represented FelCor in arranging the financing.

According to Mark Gordon, a CWSG executive vice president and head of the firm's U.S. Hotel Group, "Our team was able to help structure this unique transaction on an expedited timeline, allowing our client to exceed its expectations by consolidating multiple maturing loans and reducing their overall cost of borrowing."

Furthermore, Mr. Gordon comments, "The portfolio of five Embassy Suites and four Sheraton hotels generated strong interest from the lending community as a result of FelCor's exceptional sponsorship, the geographic diversity of the assets, the strong quality of the assets and CWSG's aggressive marketing process."

The CWSG Global Hospitality Group restructured and refinanced 23 hotels over the past 24 months which range in asset quality from luxury to select-service.

The group is currently in the market with several other hotel loans in geographically diverse US markets and is receiving strong interest from the lending community on each transaction.

# # #

back to real estate News & Events

Printer Friendly Version