Sonnenblick-Eichner Arranges $115M Loan to Refinance La Bahia Hotel & Spa
June 22, 2026
LOS ANGELES — Sonnenblick-Eichner Co. has arranged $115 million in first mortgage debt on behalf of Ensemble Investments LLC to refinance La Bahia Hotel & Spa, a 155-room waterfront hotel in Santa Cruz, Calif.
The five-year, floating-rate, nonrecourse loan was originated by Madison Realty Capital, working with Newbond Holdings.
La Bahia Hotel & Spa opened in September 2025 along Northern California’s Monterey Bay. The property includes an indoor-outdoor spa, fitness center, outdoor pool and hot tub, three dining concepts, the Pearl Champagne lobby bar and 13,720 square feet of meeting and event space.
The financing follows a $110 million loan Madison Realty Capital and Newbond provided last month to affiliates of Ensemble to refinance Hotel Nia, a 250-room, full-service hotel in Menlo Park, Calif. Sonnenblick-Eichner also arranged that financing.
Sonnenblick-Eichner is a Los Angeles-based real estate investment banking firm that arranges structured finance for acquisition, construction and permanent loans, interim and mezzanine financing and joint-venture equity transactions.
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