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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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Sonnenblick Goldman Arranges $16.4 Million Acquisition
Financing for the AMANGANI Resort located in Jackson Hole, Wyo.
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Thursday, June 21, 2007
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San Francisco, CA
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Sonnenblick-Goldman, LLC, serving as the exclusive financial advisor to Canyon Equity LLC, has arranged a non-recourse, $16.4 million floating-rate, first-mortgage financing for the acquisition of the AMANGANI Resort in Jackson Hole, Wyo. from ASC Spring Creek, LLC. Nomura Credit and Capital, Inc. provided the loan for the AMANGANI.
The exclusive and ultra-luxury resort, set on 7.27 acres on top of East Gros Ventre Butte, affords panoramic views of Spring Creek Valley and the majestic Grand Teton mountain range. The AMANGANI was designed by award-winning architect Ed Tuttle and features 40 luxury suites, a 65-seat dining room, a state-of-the-art health spa with two exercise studios, and an expansive lobby with high redwood ceilings, two-story windows and twin wood-burning fireplaces. Outdoor amenities include a 35-meter pool, whirlpool spa and spacious deck offering breathtaking views of the surrounding mountains and the perfect spot to watch wildlife in the valley. Guests are also provided access to a private ski lounge located at Teton Village.
The property will continue to be managed by Amanresorts, which earned the distinction of “world’s leading international hotel group” in the recently released 2007/2008 Zagat Survey of the World’s Top Hotels, Resorts and Spas.
“Due to the strength of the sponsorship, the excellent location of the resort, the strong dynamics of the luxury resort lodging market as well as the long-term ownership plan for the resort, we were able to generate a highly competitive process with lenders that resulted in a loan with financing terms that significantly exceeded expectations,” commented Holden Lim, director of Sonnenblick Goldman’s San Francisco office.
“It is extremely rare for an Aman resort to trade,” said Rob Stiles, managing director and pPrincipal of Sonnenblick Goldman’s San Francisco office. “Once again, the Canyon Group was able to negotiate an off market deal at a very attractive price. Significant upside for the hotel will be created in the short to medium term as a result of the proposed capital improvement plan.”
Canyon Equity, a luxury resort development firm based in Larkspur, California, has also acquired the adjacent 36-room Spring Creek Inn, the free-standing Granary Restaurant and a private residence.
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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