BELLEVUE, Wash., September 21, 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 a refinance and recapitalization of the landmark Seattle Arctic Club.
The total loan amount was approximately $27,000,000.
“With market conditions remaining strong, hoteliers like the owners of The Arctic Club are recognizing that they have the opportunity to reevaluate their overall financing structure and really set the property and investors up for continued long-term financial success.” said Greg Morris, Managing Director of Premier Capital Associates. “We are honored that the owners of The Arctic Club entrusted us with this transaction.”
Jeff McKee, Managing Director at Premier Capital Associates says “With the Federal Reserve hinting at another rate hike in the relatively near future, interest rates are starting to creep up, accelerating the timeline to lock in very low interest rates. Our ability to help hoteliers realize a lower cost of capital after their properties are refinanced at today’s rates, frees up untapped equity they can use for growth. We anticipate fixed rates will still be attractive through the end of 2016, and into Q1 2017. However, financing markets are tightening again for hotels.”
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.