October 31, 2018
Utah-based Pennbridge Lodging secured $30.5 million in financing for Residence Inn Boise Downtown/City Center. Pennbridge opened the 185-room, 10-story Marriott-flagged property in October of 2017.
Berkadia’s Adrienne Kautzman arranged the deal. The non-recourse 10-year loan features a highly competitive fixed rate.
“This is the second deal we’ve financed in downtown Boise this year, demonstrating the ongoing strength of the city’s economy, which is creating more demand for sophisticated extended stay offerings like the Residence Inn Downtown/City Center,” said Kautzman.
With a variety of rooms and suites, the property is located at 400 South Capitol Blvd., offering access to downtown Boise, the Idaho State Capital Building, Boise Centre, Boise State University and the Boise Zoo. Guests can enjoy free Wi-Fi, a 24-hour fitness center, a business center, an indoor pool and a lobby bar.
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