Premier Capital Arranges Construction Financing for WA SpringHill Suites
Thursday June 26th, 2014 - 11:20AM GSB
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
KENNEWICK, WA—Premier Capital Associates, LLC, which specializes in debt and advisory services for hospitality real estate, has arranged construction financing for the SpringHill Suites by Marriott here.
Partners at Premier Capital Associates, based in Bellevue, WA, were able to source an $11.5-million construction loan that will convert into a permanent loan. The new SpringHill Suites will be adjacent to the Convention Center.
“Construction loans are still a challenge to get done but Premier Capital is finding ways to execute on high quality deals.” stated Greg Morris, managing director of Premier Capital Associates. “This is an outstanding project in which the new hotel will be an integral part of the convention center and is strongly supported by all parties.”
Tags: Premier Capital Associates • construction financing • SpringHill Suites by Marriott • Hospitality • Brands • Construction/Renovation • Sources of Funding •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.