Premier Capital Arranges Refinancing of Crowne Plaza In Anchorage, AK
Friday April 25th, 2014 - 9:24AM W
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ANCHORAGE, AK—Premier Capital Associates, LLC, has arranged a refinance for a Crowne Plaza here.
The Bellevue, WA-based company was able to source a long-term, fixed rate, non-recourse loan of approximately $19 million that allowed the borrower to recapitalize their financial structure. The 165-unit is located at 109 West International Airport Road and is operating on a ground lease.
"Although we are seeing improvement in lending markets, investors are still sensitive to yield. Capital is primarily going to good hotel assets with positive cash that are well positioned and well located like this newer, full-service hotel in Anchorage," stated Jeff McKee, managing director, Premier Capital Associates.
Tags: refinance • Crowne Plaza • Anchorage • Hospitality •
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.