Olson Capital Acquires Prescottonian Hotel in Prescott, AZ, for Yield Crowd
After months of review, Yield Crowd's platform is bolstered by parent Olson Capital Investments' new acquisition
LAGUNA HILLS, Calif., July 20, 2022 (Newswire.com) - Olson Capital Investments is a private real estate investment firm owned by Obin and Amariah Olson. Yield Crowd is a portal to buy real estate-backed YIELD tokens on the blockchain. After months of review, Olson Capital Investments just acquired the Prescottonian, a 121-room Best Western-flagged hotel in Prescott, Arizona.
Commenting on their new acquisition, principal co-founder Amariah Olson stated, "We are excited to finally acquire this property. The property is stabilized and in excellent condition, and we were able to secure it at an attractive cap rate basis. We intend to hold the property for cash flow and appreciation. There is also some upside in increasing occupancy, which we intend to capitalize on."
This is the Olsons' fourth acquisition within a year, and the second of two target acquisitions they are making from the sale of 105 apartments in Dallas, Texas. Canyon Bank provided the senior debt on the property. Jon Grantham at Colliers, a global real estate brokerage firm, brokered the deal, and Tyler Waller at Marcus Millichap capital markets advisory team helped close the senior debt.
"After extensive review of the market, we gravitated towards Arizona because of its attractive climate, jobs, and population growth. Prescott makes an affordable vacation getaway from Phoenix, which we believe this hotel will continue to service," stated Amariah Olson.
This acquisition will help bolster Olson Capital's subsidiary Yield Crowd, which issues tokens backed by corporate bonds on the Stellar blockchain. Investors from all over the world can diversify into U.S. real estate assets and freely buy and sell to each other on the Decentral Exchange at yieldcrowd.com.
The Olsons have completed over 22 real estate investments in Office, Residential, Multifamily, Hotel, and Retail, totaling over $80 million in transactions, which they have privately financed with their own equity and institutional debt. YIELD tokens are currently only available to non U.S. investors only.
For more information, visit https://yieldcrowd.com.
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Source: Yield Crowd