ASPEN, CO—Mission Capital Advisors has secured a $10.23-million loan for Hotel Aspen, a boutique hotel located here. The loan was arranged by Jordan Ray, Ari Hirt, Steven Buchwald and Jamie Matheny of national real estate debt and equity brokerage firm. The loan was provided by a regional commercial bank.
“We were able to produce a number of competitive offers from debt funds and banks,” said Ray. “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.”
The 45-key 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 borrower is HayMax Capital, an Aspen-based real estate development firm focused on boutique hotels and development projects.