Mission Capital Advisors Secures Financing for Boutique Aspen Hotel
- Jan 26, 2016
By Ioana Neamt, Associate Editor
Aspen, Colo.—Mission Capital Advisors, a New York City-based diversified real estate capital markets solutions firm, secured $10.2 million in financing for Hotel Aspen, a 45-key boutique hotel in the Rocky Mountains. Mission Capital Advisors arranged the loan on behalf of the borrower, the Aspen-based HayMax Capital.
The non-recourse, 10-year, fixed-rate pre-payable loan was arranged by Mission Capital’s Jordan Ray, Ari Hirt, Steven Buchwald and Jamie Matheny, and placed with a regional commercial bank.
Located at 110 W. Main St. in the heart of downtown Aspen, the 45-key hotel offers guests easy access to a plethora of shopping, dining and entertainment venues, including the Aspen Mall and Aspen Music Festival’s music tent. Amenities include a heated outdoor swimming pool and hot tub, sun deck with fire pit, complimentary shuttle from Aspen Airport, free guest parking and wireless high-speed internet access. In-room features include refrigerators and microwaves, coffee makers, iPod alarm clocks, air conditioning, and in-room DVD players.
“We were able to produce a number of competitive offers from debt funds and banks,” Ray said in a statement. “Ultimately, we arranged a great non-recourse, 10-year fixed-rate pre-payable loan from a regional bank at a very low rate, retiring the property’s existing loan and returning capital to the sponsor.”
Image courtesy of Hotel Aspen