TRANSACTION CATEGORY
Provenance Hotel Portfolio
Various Locations
$236,750,000

First Mortgage Financing for a portfolio of seven full-service hotels containing 1,072 rooms.  The portfolio includes four hotels in Portland Oregon: Westin Portland, Hotel Lucia, Hotel deLuxe and Sentinel; two in Seattle, Washington: Hotel Max and The Roosevelt; and Hotel Preston in Nashville, Tennessee.

"The borrower chose to refinance a majority of the loans prior to maturity.  The cost of prepayment was mitigated by the lower cost of capital and the risk associated with the potential of higher interest rates in the future."

FEATURED TRANSACTIONS

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Sonnenblick-Eichner Company