Premier Capital Associates Arranges Crowne Plaza Refinancing
April 28, 2014 - Premier Capital Associates, LLC has announced that they had arranged a refinance for a Crowne Plaza in Anchorage, Alaska.
Partners at Premier Capital Associates were able to source a long-term, fixed rate, non-recourse loan of approximately $19,000,000 that allowed the borrower to recapitalize their financial structure. The 165-unit property is located at 109 West International Airport Road and is operating on a ground lease.
“The transaction and lending markets continue to improve” said Jeff McKee, managing director of Premier Capital Associates. “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.”
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