**Slatt Capital Arranges $23M Refinance for Embassy Suites in La Quinta**
Slatt Capital has successfully arranged $23 million in financing for the Embassy Suites by Hilton located in La Quinta, California. The refinancing was led by Scott E. Monasch, Principal and Board Member at Slatt Capital.
The 146-key hospitality asset received a loan structured through a trusted relationship lender. Terms of the deal include a 10-year loan term, 25-year amortization, a five-year fixed interest rate with a reset in the low 6% range, step-down prepayment terms, and a cash-out component.
“This refinance for the Embassy Suites in La Quinta underscores the continued strength of the hospitality market in Southern California and our ability to secure favorable financing for well-positioned assets,” said Monasch. “Working with a trusted lender source allowed us to achieve an extremely competitive and very positive outcome of terms and structure for our client.”
The Embassy Suites is situated in the Coachella Valley and serves as a popular destination for both business and leisure travelers. The refinancing enables the property’s ownership to optimize its capital structure and further enhance the asset’s value.
