SOURCE: Sonnenblick-Eichner Company

February 06, 2007 11:00 ET

Sonnenblick-Eichner Company Arranges $25 Million of First Mortgage Financing for the Los Angeles Media Tech Center

LOS ANGELES, CA -- (MARKET WIRE) -- February 6, 2007 --Sonnenblick-Eichner Company announced today that it has arranged $25,000,000 of first mortgage financing for a portfolio of four office/warehouse buildings located within the Los Angeles Media Tech Center Business Park in Los Angeles, California. The 5-year fixed rate financing, provided by a Wall Street investment bank, was priced in the low 100 basis point range over the corresponding treasury. The loan is interest only for the entire term.

The Los Angeles Media Tech Center is a master planned Business Park located at the intersection of the Glendale and Golden State Freeways just north of downtown Los Angeles. The four buildings total approximately 187,000 square feet of leasable area and are 100% leased to tenants including JP Morgan, Fidelity National Title, the Los Angeles Unified School District and Penthouse Media Group.

David Sonnenblick, a Principal of Sonnenblick-Eichner Company, commented, "We were able to structure a deal that provided for partial paydowns of the loan, which will provide the borrower maximum flexibility for pre-payment in the event of a sale of the individual buildings. This structure provides the borrower with maximum flexibility in executing their business plan over the next five years."

About Sonnenblick-Eichner Company

Sonnenblick-Eichner Company ( is a Los Angeles-based real estate investment banking firm that specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing as well as joint venture equity transactions. The company is recognized for its expertise in marketing institutional real estate for sale and providing capital for all product types including retail, office, hospitality, industrial, and multifamily properties.

Contact Information

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