Deal: Marysville Holiday Inn
Location: Marysville, WA
Collateral: 100-key Hotel
Amount: $12,050,000
Type: Acquisition Loan
Purpose: The buyer located this replacement property in Marysville for the down-leg of their 1031 exchange transaction. Simultaneously with the acquisition, a significant “Formula Blue” PIP was commencing. We were able to find a lender which accommodated the requisite acquisition financing, while at the same time provided structured financing for the proposed PIP improvements.