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3/04/26
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The Marriott Monterey hotel, a 341-room, full-service hotel in Monterey, has been refinanced with a new first mortgage for $75 mil. The hotel, located across the street from the Monterey Conference Center, offers 16.5k sf of meeting and event space, a fitness center and an outdoor pool and jacuzzi.
Elliot Eichner with Sonnenblick-Eichner Company arranged the non-recourse, fixed-rate, interest-only five-year loan. It was funded by a Wall Street investment bank.
Monterey is the cultural and economic hub of the affluent Monterey Peninsula, comprised of the cities of Monterey, Carmel, Pacific Grove, and Pebble Beach. Monterey is one of the West Coast’s most resilient and iconic coastal hospitality markets. Boasting 26 public and private golf courses, the Monterey Peninsula is regarded as the “Golf Capital of the World” and is home to internationally renowned Pebble Beach Golf Links, widely ranked as the #1 public golf course in the United States. Other iconic destinations and events include the Monterey Bay Aquarium, Cannery Row, Concours d’Elegance and the Monterey Jazz Festival, all which attract millions of people to Monterey every year.
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