Bob Sonnenblick CaRE, USC Hyatt House Hotel EB-5 Project
CaRE, USC Hyatt House Hotel EB-5 Project
Robert Sonnenblick, Chairman of Sonnenblick Development LLC, has been chosen to moderate a panel: PERE Real Estate Summit in NY Nov 12 2015
Press Release: New York City.
PERE Conference Corp. has announced that Los Angeles-based real estate developer, Mr. Robert Sonnenblick, Chairman of Sonnenblick Development LLC, has been chosen to moderate a real estate panel at their upcoming PERE Real Estate Summit in NY on November 11th, 2015.
The panel is titled: “The Cycle continues, a correction is inevitable…”.
For more info, go to www.perenews.com
Agenda
12:10 As the cycle continues a correction is inevitable: Balancing investments for a future downturn
How are we factoring the anticipation into our investment strategy now? Will there be appreciation in both long/short term assets?
- Determining asset allocation for a bullet proof portfolio
- Defining risk in tomorrow’s market
- Total return vs. Cash flow – can we have both
Moderator:
Mr. Robert Sonnenblick, Chairman, Sonnenblick Development LLC
Panel Members:
Todd Henderson, Head of Real Estate, Americas Deutsche Asset & Wealth Management
Chris McEldowney, Managing Director, Real Estate, New York Life Real Estate
Jay Morgan, Senior Consultant, Courtland Partners
Robert Sonnenblick, Chairman of Sonnenblick Development LLC, will moderate the Real Estate Cycle panel at the Real Estate Capital Finance Forum in NYC Mon.Nov 9th, 2015
Press Release: New York City. New York
Real Estate Capital Magazine has announced that Los Angeles-based real estate developer Robert Sonnenblick, Chairman of Sonnenblick Development LLC, has joined the agenda for their upcoming Real Estate Capital Finance Forum to be held in NYC on Monday November 9th. Mr Sonnenblick will moderate the “Real Estate Cycle” panel. The conference will be held at the Convene Conference Center on Third Avenue, and will begin at 8am. Conference Registration is available at (646)-854-7950.
3:45 Panel session
Hear from the borrowers: where are we in the real estate cycle?
- Where are the greatest opportunities for borrowers in the US market today?
- Sector focus: what’s next? Will a focus on multi-family that drove the post-crash recovery shift to hospitality/retail/office/industrial?
- What is the borrower’s response to the changing landscape of lenders?
Moderator:
Bob Sonnenblick, Chairman, Sonnenblick Development, LLC
Panelists:
Chris Niehaus, Partner, GreenOak Real Estate
Christa Chambers, Chief Financial Officer, Kemper Development Company
Phil Watkins, Principal, Megalith Capital
Click for more information
Bob Sonnenblick at Bisnow’s annual Lodging Investment and Innovation Series
Bisnow/BLIS Hotel Conference – Washington DC
Oct 20, 2015
click for full article on BIZNOWWhile Bill and Debbie were the highlight of the day, the 400 or so attendees were treated to a Sheila Johnson keynote and state of the hotel industry, covered yesterday. In the afternoon, the crowd was given an update on EB-5 financing from a panel of Polsinelli’s Dawn Lurie, Wright Johnson’s Aaron Goforth (he’s the one with the man-bun), Sonnenblick Development CEO Bob Sonnenblick, EB5 Capital founder Angel Brunner, who moderated in the style of Anderson Cooper, Homeier & Law’s Clem Turner, and NES Financial’s Reid Thomas. EB-5 is a vehicle for immigrants to invest in real estate. It’s a convoluted and complicated process, but it can be worth it. “The bottom line is always money,” Bob says. “The EB-5 mezzanine deal we just finished was at 6%. If you’re able to borrow mezz money at 6 instead of 12% to 13%, it’s going to save you millions of dollars over your transaction.”
Plans pulled for second golf course at Chambers Bay
The now legendary lone fir stands out amid the rolling landscape of the links style golf course at Chambers Bay. An 18-hole golf course and a large resort-hotel are no longer planned for Chambers Bay in University Place. Instead, Pierce County officials have asked the California developer behind the project for a smaller development. Dean J. Koepfler Staff file
By Brynn Grimley
Staff writer
An 18-hole golf course and a large resort-hotel are no longer planned for Chambers Bay in University Place.
Instead, Pierce County officials have asked the California developer behind the project for a smaller development.
“We didn’t feel from a county perspective that it was realistic to have a development predicated on the building of a new golf course,” deputy county executive Kevin Phelps said last week.
The county’s request came after the U.S. Open in June.
The space the USGA tournament took up outside the county-owned Chambers Bay golf course made county officials realize a second golf course didn’t make sense, Phelps said.
Last year, Los Angeles developer Bob Sonnenblick proposed a $150 million resort-style golf course and hotel on the southern portion of the 930-acre Chambers Creek property.
The course was planned for directly south of the Chambers Bay golf course with Chambers Creek Regional Park as a buffer. The hotel was proposed off Grandview Drive, near the entrance to the park.
“We feel that even though we could technically squeeze another 18 holes in, it might make it so we’re not competitive for a future (golf) event,” Phelps said.
County leaders want to host future golf tournaments, including another U.S. Open at Chambers Bay.
Sonnenblick, who owns Sonnenblick Development, is working on a new proposal.
“We understand the county’s reason for this decision, and we have no problem with it,” Sonnenblick wrote in an email to The News Tribune last week.
Losing the golf course means a smaller hotel, he said.
“Clearly without the second ‘resort’ (golf) course we would no longer be able to justify building a large, 300-plus room resort hotel in one big phase,” Sonnenblick wrote.
Previously a dramatic, five-story hotel with sweeping views of Chambers Bay golf course and Puget Sound was planned.
Plans included a 258-room hotel, conference center, 180-seat cafe and restaurant, and a swimming pool. The conference center was proposed for what now is the county’s environmental services building, with a ballroom added on.
“We have redone our feasibility studies and appraisals to divide this hotel development into two phases,” Sonnenblick wrote, “the first of which will be approximately half the size of what we had planned before.”
Sonnenblick expects to have new project renderings to the County Council soon.
“We are very excited about how the new, smaller, hotel layout sits (on) the land parcel and how well it works with the site’s current long-term master plan,” he said.
The county’s decision to request a scaled-back development was “partially economic and partially making sure that we have the ability to use that property for a variety of uses,” Phelps said.
After seeing architectural drawings for the hotel a year ago, at least two County Council members cited concern with impeding the public’s ability to access the site.
Public amenities include trails, parks and playground as well as the golf course.
“That is the public’s property,” Councilwoman Connie Ladenburg said at the time. “To make sure that (residents) still feel that that’s their property, I think, is very key with any development that we do out there.”
Sonnenblick maintains he will develop a project that promotes pedestrian accessibility to the site.
Brynn Grimley: 253-597-8467
Robert Sonnenblick Speaker at 2nd Annual Crowdfunding Forum for Real Estate Sept 16-17 2015 Santa Monica, CA
BOB SONNENBLICK
Chairman
Sonnenblick Development, LLC
Mr. Robert Sonnenblick, Principal of Sonnenblick Development, LLC, is a graduate of the Wharton School of Finance of the University of Pennsylvania with more than 30 years of experience in various aspects of real estate development and real estate finance. From 1981 to 1991 Mr. Sonnenblick was the driving force and power behind Sonnenblick-Goldman Corporation of California. Mr. Sonnenblick completed over $1.5 Billion of commercial real estate transactions on the West Coast, and as a result is regarded as one of the West Coast’s leaders in the field of commercial real estate finance. Among the more notable projects for which Mr. Sonnenblick personally structured the financing for are The Beaudry Center, Los Angeles, California ($197 million), the Ritz Carlton Hotel, Pasadena, California ($97 million), One Waterfront Plaza, Honolulu, Hawaii ($100 million), and the Los Angeles World Trade Center, Los Angeles, California ($55 million).
In 1991 Mr. Sonnenblick was appointed Director of Development for the New Jersey and L.A. MetroMalls, with the responsibility for oversight and direction of the design, financing, and leasing programs for two proposed $250 million enclosed regional malls totaling 1.2 million square feet each. Mr. Sonnenblick personally oversaw more than 1 million square feet of leases in connection with this position as well as arranging the necessary debt and equity financing. The New Jersey project opened to one of the strongest starts in the history of the United States mall industry. It is now re-named Jersey Gardens Outlet Mall.
In addition, Mr. Sonnenblick was an original development partner of the Loews Santa Monica Beach Hotel. This 360-room, $90 million hotel was sold for $125 million.
Prior to forming Sonnenblick Development LLC, Mr. Sonnenblick was the senior partner in a Los Angeles-based real estate development firm (Sonnenblick Del Rio Development) which specialized in P-3 public-private partnerships, specifically the development of four government leased office buildings across the Los Angeles basin. During his tenure there as Chairman, Mr. Sonnenblick successfully developed nearly 1 million square feet of government-leased buildings, occupied by such tenants as U.S. Department of Homeland Security, the Federal Bureau of Investigation (FBI), the Los Angeles County Sheriffs Department, Los Angeles County Department of Public Social Services, The Small Business Administration (SBA), the LA County Mental Health Dept, The Social Security Administration, and Los Angeles County Department of Children and Family Services.
Mr. Sonnenblick is a frequent speaker and panelist at various real estate-related functions, such as those hosted by Deloitte Touche, ICSC, Value Retail News, Bloomberg News, Crittenden Conference Co., USC Real Estate, UCLA Real Estate, IMN Real Estate Conferences, Bisnow Media, Opal Conference Group, iGlobal Forum, and the Institute for International Research. Mr. Sonnenblick is a published author on subjects ranging from commercial architecture to general real estate market conditions. In addition to Mr. Sonnenblick’s expertise in development, finance, and joint ventures, Mr. Sonnenblick has also been certified as an expert witness in the areas of real estate bankruptcy/foreclosure and finance. Mr. Sonnenblick is a qualified expert witness on the topic of Commercial Real Estate Interest Rates and Finance for the United States Federal Court System in numerous different jurisdictions across the State of Calif, Nevada, and Arizona.
