Deal: Homewood Suites by Hilton
Location: Issaquah, WA
Collateral: Highly rated, well-constructed 123 room extended stay hotel built in 2015
Type: Perm-Fixed, Mini-Perm Take out
Purpose: Our borrower wanted to take down long term, fixed rate debt prior to forecasted interest rate increases. We were able to arrange long term debt with one of our life companies, and the rate was locked at loan application.