SOURCE: Sonnenblick-Eichner Company

Sonnenblick-Eichner Company

November 19, 2013 11:00 ET

Sonnenblick-Eichner Company Arranges Construction Loan for Theory & Helmut Lang Stores in Brentwood, California

BEVERLY HILLS, CA--(Marketwired - Nov 19, 2013) - Sonnenblick-Eichner Company announced today that it has arranged a $9,200,000 construction loan for a high-end, luxury, boutique retail center located in Brentwood, California. The loan, which was secured from the regional office of an east coast money center bank, provides for 80% of the total project costs. The property will be 100% leased to Theory and Helmut Lang, two New York based high-end luxury retailers.

The center, which is being developed by Blatteis & Schnur of Los Angeles, California, is excellently located on San Vicente Boulevard, proximate to the 26th street intersection in the prestigious residential community of Brentwood. Upon completion, the property will provide for 9,500 square feet of retail space and parking for 37 cars. 

David Sonnenblick, principal of Sonnenblick-Eichner Company, commented, "Due to the property's excellent location, tenancy and sponsorship, we were able to obtain a very attractive construction loan that provided for 80% of the project cost. In today's changing capital market environment, it is satisfying to know that competitive capital can still be obtained for good quality transactions."

Elliot Eichner, also a principal of Sonnenblick-Eichner Company, added, "The experience of our client in developing and leasing this type of retail helped in securing a high loan-to-cost construction loan."

About Blatteis & Schnur

Headed by Principals Daniel Blatteis, Robert Schnur and Marc Guth, Blatteis & Schnur is a los Angeles-based firm with both brokerage and principal operations. The firm's brokerage business specializes in the leasing of upscale retail properties nationally and their principal business specializes in the acquisition of 100% High Street properties in the top urban retail markets in the United States.

About Sonnenblick-Eichner Company

Sonnenblick-Eichner Company (www.sonneich.com), 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. 

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