Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $10,500,000 for the refinancing of Double Tree by Hilton Hotel Olympia located at 415 Capitol Way N in Olympia, Washington.
Robert Bhat, senior managing director, capital markets, based out of MMCC’s Miami office secured the financing.
“The property is a high-performing DoubleTree by Hilton hotel strategically located in downtown Olympia,” noted Bhat. “Given the strength and experience of the borrower, we were able to secure a loan advancing 70% against total cost, including the property improvement plan required by Hilton, with a 7.00% interest rate.”
The 102-key property was renovated in 2019 and is located in Olympia’s Historic District, 35 minutes outside of Tacoma via I-5.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2022, MMCC closed 2,143 transactions totaling $12.82 billion. To learn more, please visit: marcusmillichap.com/financing.
