Thursday June 26th, 2014 - 11:20AM
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.”