Robb Capital Arranges $11.5 Million Financing for Grand Williston Hotel
Date: On April 1st, 2014, Robb Capital proudly announced the successful arrangement of financing in the amount of $11,500,000 for the Grand Williston Hotel (formerly known as the Airport International Inn), a prominent 147-room hotel nestled in the heart of Williston, North Dakota. It is noteworthy to mention that Robb Capital had previously arranged bridge financing of $9,500,000 for the acquisition and rehabilitation of this hotel just one year prior.
Property Name: Grand Williston Hotel
– Description: The Grand Williston Hotel stands as a pivotal establishment in Williston, offering exceptional accommodations and services to its guests.
– Number of Rooms: The hotel features 147 well-appointed rooms, providing top-notch hospitality services.
– Street Address: You can find this fine establishment at 3601 2nd Avenue West, in the vibrant city of Williston, North Dakota, with the zip code 58801.
– Loan Amount: The financing package secures an impressive $11,500,000, ensuring the hotel’s continued success and growth.
– Type of Program: This financing is structured as a Permanent loan, providing a solid foundation for the property’s financial stability.
– Term: A 5-Year Fixed term has been secured, providing stability and predictability to both the borrower and the property’s investors.
– Amortization: With a 25-year amortization schedule, this financing arrangement enhances the property’s overall financial structure, ensuring manageable and sustainable repayments.
– Strengths of the Deal: The Grand Williston Hotel’s strengths lie in its status as one of the few “full-service” hotels in the region. Its strategic location in close proximity to the Bakken oil formation, coupled with the recent surge in oil production, positions it for tremendous growth and prosperity.
Robb Capital is honored to have played an instrumental role in facilitating this financing arrangement, contributing to the continued success of the Grand Williston Hotel. This financing underscores our commitment to supporting growth and development in the vibrant community of Williston, North Dakota.