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TACOMA, WASH. — 3650 REIT has facilitated a $78 million construction loan for Yareton Investment. The borrower plans to use the loan to complete the development of a full-service Marriott hotel in Tacoma.
Now 30 percent complete, the 22-story hotel will feature 304 guest rooms, 9,000 square feet of event space, a 10,000-square-foot ballroom and direct connection to the Greater Tacoma Convention Center.
With this loan, Yareton Investment is able to advance the development of the hotel component of its broader mixed-use project that includes a residential tower.
Matt Fisher of JS Coats Capital arranged the financing.