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.
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.”
