ALOFT Asheville

    • Location

      Asheville, North Carolina

    • Asset Class

      Hospitality

    • Units

      115

    • Purpose

      Refinance

    • Fund Source

      Life Company

    • Amount

      $25,000,000

    • Financing

      Closed   7/5/2018

    ALOFT Asheville

    The Situation

    Situated in the heart of Asheville, North Carolina, ALOFT Asheville is located within walking distance to virtually every major tourist attraction in the city. Known for its modern architecture and design, ALOFT has become one of the most popular hotels in the area. As such, McKibbon Hospitality was looking to secure financing for the hotel, and reached out to our hospitality financing experts to structure the debt.

    The Solution

    Our team, led by Doug Hart, Alison Williams and Matt Baldwin, effectively structured a 10-year, non-recourse refinance loan provided by a life company lender, which allowed McKibbon to retire existing debt and gain equity.

    The Results

    “The Walker & Dunlop team was very helpful in arranging McKibbon Hospitality’s loan for the Aloft Asheville hotel. The financing structure provided us the term, pricing, and flexibility that we were looking for, and we are glad that we chose Walker & Dunlop as our financing partner,” stated Greg Henderson, vice president of finance at McKibbon Hotel Group.