Beverly Hills, CA – Sonnenblick-Eichner Company has arranged a $46 million of interim first mortgage financing for the Maison Dupuy, a five-story, 200-room, full-service, boutique hotel located in the French Quarter of downtown New Orleans, LA. Proceeds from the loan will be used to pay off the existing indebtedness and provide funds for the renovation of the property.
The hotel is located just two blocks off of Bourbon Street at the corner of Toulouse Street and Burgundy Street. The hotel offers the Bistreaux Restaurant and Bar, a 4,088-square-foot interior courtyard, an outdoor heated swimming pool and cabanas, fitness center, business center, and 4,173 square feet of meeting and banquet space. The hotel also includes 65 subterranean parking spaces.
“We were successful in attracting numerous competitive financing quotes from a variety of financial institutions for this opportunity. We ultimately funded the transaction with a global asset management company that has a dedicated real estate lending platform,” said Sonnenblick-Eichner company principal Elliot Eichner.
“New Orleans is a market where we have completed numerous transactions,” added Sonnenblick-Eichner principal Patrick Brown, “We arranged financing for the Old 77 Hotel in the Warehouse District, the Mazarin Hotel in the French Quarter, and other properties including The Shops at Canal Place, the Doubletree by Hilton New Orleans, as well as the Courtyard by Marriott Downtown/Convention Center and the Springhill Suites Convention Center.”