Premier Capital Associates, LLC has arranged a cash-out refinance in the amount of $14,000,000 for three hotel properties located in Anchorage, Alaska. Properties included were the 100-unit Comfort Inn Ship Creek, 85-unit Motel 6, and 79-unit Microtel. Two of the assets included were on ground leases.
Financing was arranged under a long-term, fixed rate, non-recourse loan as the borrower was looking to take advantage of current historically low rates and the opportunity to put some trapped equity to work. 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 35 years of commercial real estate finance experience to work for you.