BELLEVUE, Wash., October 19, 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 the SpringHill Suites by Marriott in Rexburg, Idaho.
The total loan amount was approximately $9,500,000.
“The investors had a short window to arrange financing in order to acquire the property. We were able to structure a loan that met the investors return requirements and closed quickly. This quick execution enabled the investors to secure a great asset in a unique market,” said Greg Morris, Managing Director of Premier Capital Associates.
Jeff McKee, Managing Director at Premier Capital Associates says “With the strong likelihood of a Federal Reserve rate increase in the relatively near future, interest rates are starting to climb, and the window of opportunity for hoteliers to secure very low rates is getting smaller. We anticipate fixed rates will remain attractive through Q1 2017, but financing markets are definitely tightening in hospitality. Hoteliers who act quickly will enjoy a lower cost of capital and participate in the continued growth of the sector.”
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.