Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate financing solutions, recently arranged $10.5 million for the refinancing of DoubleTree by Hilton Hotel Olympia in Washington. The loan was secured by Robert Bhat, senior managing director of capital markets at MMCC’s Miami office.
Bhat commented on the transaction, stating that the hotel is a high-performing property strategically located in downtown Olympia. He also mentioned that due to the borrower’s strong experience and track record, they were able to secure a loan for 70% of total cost with an interest rate of 7%. The property consists of 102 keys and underwent renovations in 2019. It is situated in Olympia’s Historic District and conveniently located just outside Tacoma along I-5.
The recent refinancing deal highlights MMCC’s expertise and success in securing competitive financing options for their clients’ commercial real estate needs.
