Posted 2/13/2013 - 2:35:57 PM
BELLEVUE, WA—A $30-million recapitalization of a Marriott Hotel portfolio in Texas has been arranged by Premier Capital Associates, LLC, a full-service, national real estate investment banking company specializing in debt finance for hospitality and other income-producing commercial real estate, based here.
According to the company, the recapitalization allowed the hotelier to access equity trapped in the portfolio, which allows for greater operational flexibility across the portfolio. The hotel owner was able to take advantage of the current low interest rates available for financing. Specific terms and conditions were not disclosed.