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2/01/16
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HayMax Capital has obtained a $10.23 mil refi loan on Hotel Aspen, a boutique hotel located at the entrance to Aspen, CO’s bustling downtown. HayMax Capital is an Aspen-based real estate development firm focused on boutique hotels and development projects.
The 45-key hotel is a premier hospitality property in Aspen, one of the most popular winter resort destinations in the country. The hotel offers visitors a range of amenities including a heated outdoor swimming pool and hot tub and a sun deck with a fire pit.
The non-recourse financing was arranged by Jordan Ray, Ari Hirt, Steven Buchwald and Jamie Matheny of Mission Capital Advisors. The 10-year, fixed-rate pre-payable loan was provided by a regional bank at a very low rate, retiring the property’s existing loan and returning capital to the sponsor.
Mission Capital is extremely active in arranging financing for hotel, office, retail, multifamily and industrial properties across the country. The firm’s recent hospitality transactions include securing $60 mil in construction financing for a hotel in downtown Los Angeles; arranging $31.5 mil in acquisition financing for a university-oriented lifestyle hotel in Berkeley; and facilitating $19 mil in acquisition and renovation financing for the conversion of a Miami Beach residential property to hospitality use.
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