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 had arranged and closed a $3.5 million refinancing transaction for a Country Inn & Suites, located in Tempe, Arizona.
“This transaction allowed the owners to extinguish seller originated financing, take advantage of the low interest rate environment and allow them financial flexibility as the economy continues to recover and the property gets a full return on the recent major renovation,” said Greg Morris, managing director of Premier Capital Associates, LLC. “Experience and relationships are key components of getting financing completed in today’s market. Our 20-plus years of hotel finance experience allows us to develop creative solutions for our clients.”
“Regardless of where the hotel industry is on the road to recovery, there is one word of caution: the low interest rates that have ruled for the last five years are sure to come to an end, and in fact, they’re slowly creeping up. Interest rates cannot stay at historical low levels forever,” said Jeff McKee, managing director of Premier Capital Associates, LLC. “While these bargain-basement rates have meant low-cost money, higher rates may actually be good for business. Lenders make more profit as interest rates rise, so they’re more likely to make money available; they want your business.”
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.