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4/10/26
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Somera has refinanced the Residence Inn by Marriott Walnut Creek, a 160-room extended-stay hotel in Walnut Creek, with a new loan for $26 mil.
The six-story hotel is located at 2050 N. California Blvd, less than one-half mile from the Walnut Creek BART station, which provides access to downtown San Francisco and the surrounding the Bay Area. The property offers 870 sf of meeting space, an indoor pool, fitness room, an outdoor patio, barbecue area and subterranean parking for 144 cars.
Sonnenblick-Eichner Company arranged the non-recourse fixed-rate, five-year financing. The loan is interest only for the term and was funded by Barclays.
“Evidencing the recovery in the northern California hospitality market, we were able to attract competitive fixed-rate, financing at a lower cost of capital than the maturing floating rate debt,” said Sonnenblick-Eichner Company Principal Elliot Eichner.
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