Nexera Capital Secures $68.15 Million Refinance Loan For 200-Room AC Hotel In Seattle

The asset involved in the transaction is the newly opened 200-room AC Hotel located at 117 Yale Avenue in Seattle, WA. The property aims to enhance its performance by leveraging its favorable location near major attractions, thereby boosting occupancy rates and eventual sale prospects.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $68,150,000
• Lender: Jared Schlosser - Peachtree Group
• Landlord: Pete Patel - Nexera Capital
• Loan Type: Refinance
• Loan Terms: three-year, floating-rate, first-mortgage loan with two 12-month extension options

Nexera Capital has secured financing to support the AC Hotel's objectives in a competitive market. The loan is intended to facilitate improvements that can elevate the hotel's overall performance in the bustling Downtown Seattle area.