McKibbon Hotel Group secures $25m in financing for Aloft Asheville

The McKibbon Hotel Group secured $25m in financing for Aloft Asheville, a specialty hotel property located in Asheville, North Carolina. Walker & Dunlop arranged the 10-year, non-recourse refinance loan with a life insurance lender. Proceeds will be used to retire existing debt and return equity to the sponsor. The six-story property houses 115 guestrooms along with two 3,000 sq ft retail units leased to the restaurant The Blackbird and the outdoor retail outfitter Diamond Brands. Amenities include a 24-hour food bar, fitness center, three bars and lounges, free Wi-Fi and keyless hotel access.