Real Estate Weekly
Image default
Debt & Equity

AJ Capital secures $100M in financing for Graduate Hotel properties

Mission Capital Advisors has arranged nearly $100 million in non-recourse acquisition financing for AJ Capital Partners to acquire and renovate two Graduate Hotel properties in Seattle and Minneapolis.

Photo by Dustin Moore/ Flickr
Photo by Dustin Moore/ Flickr

The Graduate Hotels brand, launched by AJ Capital Partners in 2014, is a hotel collection in university-anchored cities across the country.

AJ Capital will use $50.8 million and $43.8 million in non-recourse financing from two different debt funds to acquire, renovate, and rebrand the hotels in Minneapolis and Seattle, respectively.

Mission Capital’s team of Jordan Ray, Ari Hirt, Steven Buchwald and David Behmoaras represented AJ Capital in both transactions.

“The Graduate Hotels are generating a great deal of attention,” said Ray.  “People like the concept of an amenitized hotel that has a fun local vibe and is situated on or near a campus.”

(Visited 1 times, 1 visits today)

Related posts

RXR secures $105M to refinance Westchester apartment building


Taconic Capital Advisors Closes $500M Distressed and Opportunistic Real Estate Fund


New York Outer Boroughs industrial portfolio refinanced with $60.8M loan