Deal: Marriott Hotel & Convention Center

Location: Tacoma, WA

Collateral: The Marriott Hotel and Convention Center is a 22-story hotel containing 304 guest rooms, 9,000 SF of event space, and a 10,000 SF ballroom.

Amount: $78,000,000 + $93,000,000

Type: Construction and Take-Out Bridge

Purpose: After EB-5 funds became scarce, the developer needed $78,000,000 to complete the construction of the Marriott Hotel and Convention Center in downtown Tacoma. The loan request had several complicating factors such as foreign national sponsorship, funding mid-construction, etc. We brought in a lender who specializes in complex transactions such as this and secured the capital needed for completion. In 2021 we secured a bridge loan to take out the construction financing.