Premier Capital Associates Arranges Funds for Acquisition and Renovation of the Modern Classic Papago Inn, Scottsdale, AZ
BELLEVUE, Wash. – 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 arranged funding to support the acquisition and renovation of the midcentury modern treasure – The Papago Inn, Scottsdale.
The total loan amount was approximately $2,500,000.
"Our client came to us to assist them in acquiring and renovating this Scottsdale icon. We were able to structure a package that allowed for both the acquisition of the property, and extensive renovation to restore it to its midcentury glory," said Greg Morris, Managing Director of Premier Capital Associates.
Jeff McKee, Managing Director at Premier Capital Associates adds "True to our predictions, interest rates are continuing their very gradual upward trend. While rates remain competitive, growth is slowing, which could lead to additional fiscal policy actions. The hotelier who hesitates could be priced out of the market sooner than later."
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.
