BELLEVUE, Wash., July 19, 2017 – 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 secured refinancing for the Hilton Garden Inn, Tri-Cities/Kennewick in Kennewick, WA.
The total loan amount was approximately $12,600,000.
“Our client was looking for creative ways to extract the equity residing in the Kennewick asset. Tapping into our broad network of lenders, we were able to deliver a financial package that gave our client the resources they were looking for quickly. Doing so allowed them to consider a range of options for the continued health and growth of their portfolio,” said Greg Morris, Managing Director of Premier Capital Associates.
Jeff McKee, Managing Director at Premier Capital Associates adds, “Although the hotel industry continues to expand, we are seeing signs that the pace of that growth is starting to slow. Unlocking the equity that lives in their current asset portfolio now, could help hoteliers fuel controlled growth while the market is still strong.”
