CooperWynn Capital has arranged a $4.875 million cash-out refinancing for the 64-room My Place Hotel in Midland, Texas.
The financing—which was executed on behalf of ownership led by Dustin Campbell—was placed with a national CMBS lender and provides fixed-rate, non-recourse debt with a five-year term. The loan refinanced the property's existing debt while returning equity to ownership through a cash-out structure, allowing the sponsor to redeploy capital and secure long-term financing.
The three-story hotel—which was developed and is managed by CAMTOD Midland—opened in November 2020. The property is located in the Permian Basin and includes in-room kitchens designed for extended-stay travelers.
“Getting a CMBS execution across the finish line in this market took discipline on both sides of the table,” Stan Kozlowski, principal of Park City, Utah-based CooperWynn Capital, said in a statement. “Market spreads shifted, interest rate expectations changed multiple times and lenders continued to reprice the transaction throughout the process. Despite that volatility, we remained focused on execution and delivered the financing structure our client set out to achieve.”