March 7, 2013
Premier Capital Associates, LLC has arranged a cash-out refinance in the amount of $10,700,000 for the Fairfield Inn located in Anchorage, Alaska. This property includes 106-units located at 5060 A Street and is situated on a ground lease.
Financing was arranged under a long-term, fixed rate, non-recourse loan as the borrower was looking to take advantage of current historically low rates and the opportunity to put trapped equity to work. Terms and pricing were not disclosed.
Premier Capital Associates is a national, full-service real estate investment banking company specializing in debt finance for hospitality and other income producing commercial real estate. The principals bring over 40 years of commercial real estate finance experience to work for you.