April 5, 2013 - Bellevue, WA
Premier Capital Associates, LLC has arranged financing in the amount of $13,200,000. This enabled the client to refinance existing debt in the amount of $7.6MM, with the balance of financing used to acquire an additional hotel property. Collateral for the loan included the Holiday Inn Express, Devils Lake, ND, Country Inn & Suites, Effingham, IL, and Holiday Inn Express, Chanhassen, MN.
Financing was arranged under a long-term, fixed rate, non-recourse loan. The borrower was looking to eliminate personal recourse and take advantage of current historically low rates. Terms and pricing were not disclosed.
Premier Capital Associates is a national, full-service real estate investment banking company specializing in debt finance for hospitality and other income producing commercial real estate. The principals bring over 40 years of commercial real estate finance experience to work for you.