BELLEVUE, Wash., September 29th, 2014 – Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they had arranged acquisition financing of the 95-room Comfort Inn, Missoula, Montana in the amount of $3,750,000.
The newly renovated Comfort Inn is near the University of Montana and the Missoula Airport. The owner is looking to re-establish this property in the market place.
“Confidence among hoteliers is up which is spurring some great transactional activity.” said Greg Morris, managing director of Premier Capital Associates. “With rates still relatively low, this is a great time for hoteliers looking to make some strategic investments in their portfolios. With the uncertainty in the world, no one can predict what rates will look like on January 1st, 2015.”
Jeff McKee, Managing Partner at Premier Capital Associates points out that “Hotel assets are still appreciating but are still below the peak values we saw in 2007. Of all commercial real estate asset classes, hotels are expected to lead in appreciation. Another reason it is a good time to buy.”
Premier Capital Associates, LLC, located in Bellevue, Washington, is a national, full-service real estate investment company specializing in debt finance and advisory services for hospitality and other income-producing commercial real estate, with well-established national relationships. The principals bring over 35 years of commercial real estate finance experience arranging debt for construction loans, acquisition, refinancing, and reposition financing. For additional information, please contact either Jeff McKee at 425-957-0600 or Greg Morris at 425-957-0700. Or, visit the company’s Web site: www.premiercapitalassoc.com.