BELLEVUE, Wash., May 4, 2017 – 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 funding to support the acquisition and renovation of the midcentury modern treasure – The Papago Inn, Scottsdale.
The total loan amount was approximately $2,500,000.
“Our client came to us to assist them in acquiring and renovating this Scottsdale icon. We were able to structure a package that allowed for both the acquisition of the property, and extensive renovation to restore it to its midcentury glory,” said Greg Morris, Managing Director of Premier Capital Associates.
Jeff McKee, Managing Director at Premier Capital Associates adds “True to our predictions, interest rates are continuing their very gradual upward trend. While rates remain competitive, growth is slowing, which could lead to additional fiscal policy actions. The hotelier who hesitates could be priced out of the market sooner than later.”