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Business & Finance

Sonnenblick-Eichner Company Arranges the Sale of the 153-Room Hampton Inn Southcenter Hotel in Seattle, WA

BEVERLY HILLS, CA. November 8, 2017 – Real estate investment banking firm Sonnenblick-Eichner Company arranged the sale of the 153-room Hampton Inn Southcenter in Seattle, WA in an all-cash transaction.

The property was sold to a Pacific Northwest-based investor and represents the last property in a portfolio of hotels that were financed and sold by Sonnenblick-Eichner Company over a 20-year period for this client.

The Hampton Inn Seattle Southcenter is located four miles east of Seattle-Tacoma International Airport. Due to its close proximity to several major corporations, the hotel benefits from numerous corporate accounts including Boeing, American Express Travel, and Home Depot. The hotel is served by Interstates 405 and 5, providing direct access into downtown Seattle.

“This is an irreplaceable asset in a strong hotel market that continues to attract both business and leisure travelers,” said Sonnenblick-Eichner’s co-founder and principal, Elliot Eichner.

“This is the third hotel sale that Sonnenblick-Eichner Company represented the seller. The other hotels include the Dream Inn, Santa Cruz, California, and the Dupont Plaza Hotel in Washington, D.C.,” added Patrick Brown, also a Principal of Sonnenblick-Eichner Company.

About Sonnenblick-Eichner Company

Sonnenblick-Eichner Company (www.sonneich.com) is a Beverly Hills-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:
Bruce Beck
bruce@dbrpr.com
(805) 777-7971

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Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.