RRA Capital structures loan to support a hospitality property in the Phoenix metro area. The 108-key La Quinta Inn & Suites, originally built in 1998, benefits from a prime location in Peoria’s P83 entertainment district, surrounded by major leisure and business demand drivers.

RRA provided a $9.45 million non-recourse bridge loan, providing the sponsor with flexibility to enhance operational efficiencies and strengthen cash flow. The financing structure also included an interest reserve, to promote stability during the loan term.

The property benefits from close accessibility to the Arizona Loop 101, connecting it to Peoria Sports Complex - spring training home to the Seattle Mariners and San Diego Padres, as well as more retail, dining, and entertainment options in the area. Guests can take advantage of an outdoor pool and hot tub, a fitness center, complimentary breakfast, and meeting spaces.

The Phoenix hospitality market is supported by population growth and a robust tourism sector.

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RRA Capital’s financing provides structured flexibility for the sponsor’s business plan enabling them to pursue operational goals.