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6/02/25
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A Best Western Plus hotel property in Moses Lake, WA was refinanced with a new $14 mil permanent loan. The property is located at 3000 W Marina Dr in Moses Lake.
The high performing hotel and restaurant facility offers both a serene lakeside destination location and a central I-90 rest stop for travelers between Seattle and Spokane. The full property, including restaurant location, underwent a recent strategic improvement program completed in 2023.
Drit Shoemaker with Gantry arranged the seven-year, fixed rate loan. It was provided by a regional Pacific Northwest bank at a 25-year amortization.
“Most well managed hospitality assets in strategic locations continue to show improving performance as post COVID travel norms return,” noted Shoemaker. “This well-maintained Best Western Plus property was facing a pending maturity after an extensive renovation completed in 2023 that led to a dramatic improvement to performance. This refreshed, high quality, lakefront property continues to see growing revenue from an increase in bookings and restaurant patronage.”
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