SEATTLE, WASHINGTON (April 23, 2019) – Jake Leibsohn, vice president and Bob Spiro, senior vice president of NorthMarq’s Seattle-based regional office arranged the refinancing of $6,725,000 for Dimond Center Hotel, a 109-room hospitality property located at 700 East Dimond Center in Anchorage, Alaska. The transaction was structured with a fully-amortizing 15-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The property is connected to a nearby shopping center, is within a 15-minute drive of Alaska Zoo and University of Alaska – Anchorage. It also enjoys close proximity to Alaska Airlines Center (5.8 miles) and Dimond Center (0.4 miles).
“NorthMarq’s correspondent lender was able to provide a combination of flexible terms and a highly competitive interest rate that fit with the borrower’s business plan,” said Leibsohn.