BELLEVUE, Wash., January 22, 2015 – 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 for an acquisition, conversion and major renovation for a property that transitioned to a Holiday Inn.
The total loan amount was approximately $9,500,000.
“With so many hotel chains requiring renovations, we will see more hoteliers not willing to make required investments put hotels up for sale” said Greg Morris, Managing Director of Premier Capital Associates. “For the right buyers, this represents an opportunity to reposition a property that will better meet the needs of a market and bring a fresh brand into the mix.”
Jeff McKee, Managing Director at Premier Capital Associates says “Thanks to 2014 giving way to stronger market fundamentals, including better availability of capital and limited development, the industry is expected to continue to flourish and sustain recent growth. We expect to see more deals like this happening in 2015”
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.