Berkadia Arranges $16.2M Financing for Hyatt Place Boise
BOISE, IDAHO — Berkadia has arranged $16.2 million in financing for Hyatt Place Boise, a select-service hotel located at 1024 W. Bannock St. in downtown Boise. The borrower is a partnership between Utah-based PEG Development and Idaho-based Rafanelli and Nahas.
Adrienne Kautzman of Berkadia’s Phoenix office secured the permanent financing for the borrower. The non-recourse long-term loan features a fixed rate and several years of interest-only payments.
Hyatt Place Boise features 150 guest rooms, 24-hour fitness center, business center, outdoor pool and restaurant.