April 1st 2014: Robb Capital announced today that they have arranged financing in the amount of $11,550,000 for the Grand Williston Hotel (previously the Airport International Inn) a 147 room hotel located in Williston, North Dakota. Robb Capital additionally arranged bridge financing in the amount of $9,500,000 one-year prior for the acquisition and rehab of this hotel.
The strengths of this deal are in relation to the property being one of only a few “full service” hotels in the region. In direct correlation to the areas Bakken oil formation along with the recent demand in oil production it’s posed to benefit tremendously.
-Name: Grand Williston Hotel
-Number of Rooms: 147
-Street Address: 3601 2nd Avenue West
-City & State: Williston, North Dakota, 58801
-Loan Amount: $11,550,000
-Type of Program: Permanent
-Term: 5-Year Fixed
-Amortization: 25 Years