Dealmaker: Sonnenblick-Eichner Secures $35M for Oakland Hotel

Sonnenblick-Eichner Co., Beverly Hills, Calif., placed $35 million for the leasehold interest in the Moxy Oakland Downtown, a 172-room hotel in Oakland’s Uptown Arts and Entertainment District.

The hotel opened in March 2021. Proceeds from this non-recourse financing retired the construction loan and provided fresh capital to move the hotel toward stabilization. Tidewater Capital and Graves Hospitality developed the property and own the property in partnership with EJF Capital.

“We have been successful in financing numerous hotels coming off of construction loans and we were pleased to see that this loan was also competitively bid,” noted Sonnenblick-Eichner Principal Patrick Brown.

Oakland’s Arts and Entertainment District has emerged as a center for fashion and nightlife and offers a growing number of local and international design shops, fashion boutiques, restaurants and hotels. 

Moxy Hotels is Marriott International’s millennial-focused lifestyle brand.