MILWAUKEE—Premier Capital has arranged financing for an acquisition, conversion and major renovation for a property that transitioned to a Holiday Inn here.
The total loan amount was $9.5 million. “With so many hotel chains requiring renovations, we will see more hoteliers not willing to make required investments put hotels up for sale,” said Greg Morris, managing director of Premier Capital Associates. “For the right buyers, this represents an opportunity to reposition a property that will better meet the needs of a market and bring a fresh brand into the mix.”