BELLEVUE, Wash., November 17, 2016 – 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 arranged financing necessary to acquire and renovate the Crowne Plaza Hotel in Downtown Memphis, Tennessee.
The total loan amount was approximately $14,200,000.
“Quick access to capital allowed our client to not only purchase but also renovate the Crowne Plaza into a modern, high-quality property. Our ability to structure financing that met the client’s needs and close the transaction rapidly, resulted in this valuable asset being acquired with great terms and renovated in exceptional style”, said Greg Morris, Managing Director of Premier Capital Associates.
Jeff McKee, Managing Director at Premier Capital Associates says, “The uncertainty in the economy will continue to take the financial markets on a wild ride, however we continue to expect fixed rates will remain relatively low through early 2017. Owners should look closely at their capital needs near term in order to plan their growth strategies with rising rates becoming more of a reality.”
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.