PARK CITY, Utah—CooperWynn Capital announced that it has arranged the refinancing of the Fredericksburg Inn & Suites on behalf of Croesus Hotels, LLC.
The new financing provides fixed-rate debt with favorable debt service obligations for the property, which is situated on five acres alongside Baron Creek in Fredericksburg, Texas.
“In today’s challenging environment for smaller hotel loans, we were pleased to secure financing that met our client’s objectives,” said Stan Kozlowski, principal, CooperWynn Capital. “We are especially proud to have partnered with these clients on multiple occasions throughout their 20+ years of ownership of the hotel, helping support the property’s continued success and growth.”
“We truly value our long-standing relationship with CooperWynn Capital,” said Randy Box and Dan Wenz, partners in Croesus Hotels, LLC. “Their expertise and commitment have been instrumental in helping us grow and enhance the Fredericksburg Inn & Suites over the years. This latest financing allows us to continue investing in the guest experience and the future of our property.”
The 103-room independent select-service property offers complimentary hot breakfast, an outdoor pool with a slide, a volleyball pool, a hot tub, outdoor amenities, and over 3,700 square feet of meeting space.
“We partnered with a lender offering capital at a very competitive cost and structure for this high-quality, consistently performing asset,” added Keaton Quigley, vice president, CooperWynn. “This financing resulted in mid-$9 million in loan proceeds with five-year, fixed-rate CMBS financing at rates below 5.4 percent.”
Located within walking distance of Fredericksburg’s Main Street, the hotel offers guests access to the area’s wineries, the National Museum of the Pacific War, and shopping.
