Updated Dec 4, 2024
Marcus & Millichap Arranges $10.5M Refinancing For DoubleTree Olympia Hotel
415 Capitol Way North
$10,500,000
Building Size
—
Asset Type
Hotel
Closing
Oct 11, 2023
About this deal
AI
The DoubleTree by Hilton Hotel Olympia, located at 415 Capitol Way N in Olympia, Washington, has successfully secured a refinancing package worth $10.5 million. The hotel features 102 keys and is considered a valuable asset in the market. The deal was facilitated by Marcus & Millichap's broker representative, Robert Bhat.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $10,500,000
- Address: 415 Capitol Way North - Double Tree by Hilton Hotel Olympia
- Market: Olympia, WA
Marcus & Millichap Capital Corporation (MMCC) played a pivotal role in arranging this successful refinancing package for the DoubleTree by Hilton Hotel Olympia. The hotel's prime location and strong market presence contributed to the favorable terms of the loan. This transaction not only highlights the expertise of Robert Bhat from Marcus & Millichap but also showcases the continued growth in the hospitality sector in Olympia, Washington.
Olympia Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93