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October 12, 2023

M&M secures $10M for hotel refi

Marcus & Millichap recently announced its successful arrangement of a $10.5 million refinancing package for a 102-room Double Tree by Hilton hotel down in Olympia. The lender wasn't named. The deal was secure by Robert Bhat, in M&M's Miami office. He said in a statement, “The property is a high-performing Double Tree by Hilton hotel strategically located in downtown Olympia. 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% interest rate.”




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