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June 23, 2018
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SACRAMENTO NEWS
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Sacramento Area Hotel Financed with $8.7 Mil Loan

2/09/18

Gold Center Hotel has secured $8.7 mil in non-recourse financing for Fairfield Inn & Suites, a 104-room, limited-service hotel in Rancho Cordova, CA. The fixed-rate, permanent financing was provided by an international reinsurance company.

The asset is located in Rancho Cordova, in the Sacramento MSA, an area that is home to a number of business parks with companies in biotechnology, high-tech, healthcare and clean energy fields. The greater Sacramento area is the epicenter of California government agencies and entities, along with federal cohorts.

The hotel holds contracts with both regional businesses and government agencies and has experienced growth in average daily rates. RevPar at the property continues to increase along with occupancy.

John Nelson and David Kaim of CBRE Capital Markets' Debt & Structured Finance team arranged the financing.




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