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Seattle & Northwest  + Washington  + Hospitality  |  October 10, 2023
Jasmine Kilman
By: Jasmine Kilman

MMCC Secures $10M in Refinancing for Olympia DoubleTree

Marcus & Millichap Capital Corporation (MMCC), a provider of commercial real estate capital markets financing solutions, arranged $10.5 million for the refinancing of DoubleTree by Hilton Hotel Olympia, located at 415 Capitol Way N in Olympia, Washington.

Robert Bhat, senior managing director of capital markets, based out of MMCC’s Miami office, secured the financing. “The property is a high-performing DoubleTree by Hilton hotel strategically located in downtown Olympia,” noted Bhat. “Given the strength and experience of the borrower, we were able to secure a loan advancing 70% against total cost, including the property improvement plan required by Hilton, with a 7.00% interest rate.” The 102-key property was renovated in 2019 and is located in Olympia’s Historic District, 35 minutes outside Tacoma along I-5.

Read More News Stories About: Marcus & Millichap
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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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