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Mr. Robert Sonnenblick will moderate the 4pm CrowdFunding March 10th, 2016

Press Release: March 1, 2016-New York City, N.Y. IMN Conferences has announced that <span class= Mr. Robert Sonnenblick, Chairman of Los Angeles-based Sonnenblick Development LLC will moderate the 4pm CrowdFunding panel at their upcoming March 10th conference at the Marriott Downtown Hotel in NYC.” class=”alignleft size-full wp-image-2319″ height=”476″ width=”1814″>

Press Release: March 1, 2016-New York City, N.Y. IMN Conferences has announced that Mr. Robert Sonnenblick, Chairman of Los Angeles-based Sonnenblick
Development LLC will moderate the 4pm CrowdFunding panel at their upcoming March 10th conference at the Marriott Downtown Hotel in NYC.

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Crittenden Conferences Inc announced: Mr. Robert Sonnenblick, Sonnenblick Development LLC, to moderate the Hotel Development and Finance panel

Tuesday, April 19, 2016 | Omni San Diego

9:00am -10:00am

#602 – Hotel Development and Financing

Moderator: Bob Sonnenblick – Sonnenblick Development LLC
Mark Strauss – Cohen Financial
Thomas Whitesell – CapitalSource
Malcolm Davies – George Smith Partners

Press Release: San Diego, Calif.-Feb.25, 2016

Crittenden Conferences Inc has announced that Mr. Robert Sonnenblick, Chairman of Los Angeles-based Sonnenblick Development LLC, has been chosen to moderate the Hotel Development and Finance panel at their upcoming Crittenden National Real Estate Conference in San Diego, California. The conference will be held at the Omni Hotel in Downtown San Diego.

Crittenden-Sonnenblick-Press Release

Sonnenblick Development – Contractor selected to build Sacramento International Airport hotel

Mark Anderson
Staff Writer Sacramento Business Journal

Sundt Construction will be the general contractor of the long-delayed Hyatt Place hotel at Sacramento International Airport.

Shimahara Illustration

Sundt Construction will be the general contractor of the long-delayed Hyatt Place hotel at Sacramento International Airport.

The 150-room hotel is a design-build project, so the general contractor is an integral partner in the planning. A permitting meeting is set for Monday with Sacramento County and the development team, said Bob Sonnenblick, principal of Sonnenblick Development LLC of Los Angeles, the developer of the hotel.

The hotel won approvals from Sacramento County in January last year, but Sonnenblickand his previous general contractor had a falling out, which delayed the project. Sonnenblick declined to name the previous general contractor.

Sundt is based in Tempe, Ariz., and it has nine offices in Arizona, California and Texas, including an office in South Natomas, just a few miles from the airport.

In the interim between its initial approval and now, Sonnenblick had a feasibility study done that found the hotel would do better with larger suites and more of them, so he added 15 rooms, including some as large as 650 square feet. Regular suites are about 450 square feet.

“We don’t want to be just a limited-service hotel. We want to get some higher-end clientele as well,” he said.

Construction will be a prevailing wage project and Sonnenblick has a handshake agreement to allow UNITE HERE Local 49, the hotel employees union, to represent the eventual hotel workers at the Hyatt Place, which could open in the summer of 2018. A groundbreaking is expected this summer, he said.

The airport would bring significant business to the hotel. Many flights out of Sacramento leave very early in the morning, so travelers from all over Northern California could use the hotel to arrive the night before traveling. Also, the hotel, like the airport, is right off Interstate 5, which can generate demand from auto travelers.

Another potential business for the hotel is air crew rooms. Many airlines have contracts that require them to house flight crews in nearby hotels.

Robert Sonnenblick in the news: Why new airport Hyatt is behind schedule – and why it’s getting bigger

A rendering for a Hyatt Place hotel proposed for Sacramento International Airport, which the developer now wants to expand to add more rooms.
– Shimahara Illustration

Dec 4, 2015, 7:01am PST

The Hyatt Place hotel proposed for Sacramento International Airport will get more and larger rooms.

The 135-room project in January won approval from Sacramento County, which operates the airport. Developer Bob Sonnenblick recently won its approval to add 15 luxury suites to the property.

Sonnenblick, principal of Sonnenblick Development LLC of Los Angeles, said feasibility studies showed the hotel will do better with more rooms and the addition of the big suites.

The new design calls for 10 suites of 650 square feet, five junior suites and the original 135 suites, which are on average 450 square feet, he said. The five-story hotel will be wider, but not taller with the extra rooms.

Sonnenblick said he hopes to be under construction in the second quarter next year and then work through about 15 months of construction. That would put the opening of the new hotel in summer or fall of 2018.

Construction was to have started earlier this year, but Sonnenblick and his previous general contractor had a falling out on the project. Sonnenblick plans to name the new contractor later this month. Sonnenblick Development LLC will build, operate and own the hotel, which will be between the airport’s main commercial terminals. He said he has lined up construction financing.

The airport is a demand driver for the hotel. Many flights out of Sacramento leave very early in the morning, so travelers from all over Northern California could use the hotel to arrive the night before traveling. Also, the hotel, like the airport, is right off Interstate 5, which can generate demand from drivers. Another potential business for the hotel is air crew rooms. Many airlines have contracts that require them to house flight crews in nearby hotels.

Hyatt Place is a limited-service property. Locally, there are Hyatt Place properties in Davis, Rancho Cordova and Roseville.

Sacramento County has been seeking a hotel for more than a decade. The previous hotel at the airport, the Host Airport Hotel, was successful, but was demolished for the expansion of the airport’s new terminal and parking garage.

Mark Anderson
Staff Writer
Sacramento Business Journal

Bob Sonnenblick – EB-5 funding – Why Investors and Lenders Are Betting on LA’s Hospitality Market –

Nov 23, 2015 Patricia Kirk, Reporter
As the LA market continues to heat up across all sectors and with a fear of looming interest rate hikes, financing major developments has become a hot topic. For hotels, one of the hotter strategies is EB-5 funding.

San Francisco-based developer Sonnenblick’s principal, Bob Sonnenblick (pictured here with Athens Group COO Jay Newman), launched the discussion of hotel investment and development at Bisnow’s 3rd Annual LA Hospitality Boom event last week, discussing capitalization of an $80M hotel his company is developing on USC’s medical campus.

In financing the project, his firm put up 25% equity and secured a loan for 50% of the cost at 5% interest. But instead of filling the 25% equity gap with mezzanine money at 12% to 14%, his firm leveraged EB-5 funds at “an unbelievable 6%” rate, he says. “EB-5 money is a game changer,” Bob says. He noted EB-5 doesn’t work for everyone, as securing funding is a one-year process. “We had time to wait, because it took that long to get the project entitled,” Bob says. The program may not be available much longer; Congress is scheduled to consider a bill to limit it.