ANCHORAGE, Alaska--(BUSINESS WIRE)--Affinity Hospitality announced the highly anticipated property, The Courtyard by Marriott Midtown Anchorage, is anticipated to open Spring 2026. Following an official groundbreaking this past June, the property will feature an innovative lobby space as well as the brand’s latest contemporary room design, offering business and leisure travelers the flexibility and choices to optimize and elevate their travel experience.
Funded by its financing partners Northrim Bank and Nuveen Green Capital (NGC), this also marks the first new construction project financed through Commercial Property Assessed Clean Energy and Resilience (C-PACER) in the state of Alaska. The Courtyard by Marriott Midtown Anchorage, a four-story, 141-room hotel, will open at 4960 A Street near Ted Stevens International Airport.
“Anchorage is a great market and with the hotel’s close proximity to local business and area attractions, this is an ideal location. We are pleased to be under construction and excited to introduce Courtyard by Marriott’s innovative approach to our guests and the Anchorage community. We are honored to continue our collaboration with Marriott and Horne Management Group to develop a classic, upscale select-service hotel that delivers on the needs of business and pleasure travelers visiting Anchorage,” said Ric Marko with Affinity Hospitality.
This project marks Affinity’s second hotel in Anchorage and reflects the company’s track record of creating and enhancing value in hotels for our investment partners through sound strategy and efficient management. Courtyard by Marriott Midtown features the brand’s latest lobby design, where guests can enjoy an open and modern environment outside of their rooms.
The newly designed Bistro is the epicenter of the lobby, which fosters social connections and collaboration with more flexible and informal seating options. The Bistro offers guests a wide variety of “made to order” breakfast and dinner items, “grab and go” options, and features an array of cocktails, beer and wine for guests to unwind at the end of the day. Throughout the hotel, guests can connect with ample electrical outlets. The business library features several computer terminals, along with a printer and separate computer stations dedicated solely to printing airline boarding passes and checking flight status. The hotel features an indoor swimming pool and whirlpool spa, a large fitness center and guest laundry, and offers 1,430 square feet of flexible meeting space to accommodate functions of up to 95 people.
C-PACER, which is administered by the Municipality of Anchorage, provides flexible financing solutions for new, ongoing, or recently completed commercial real estate projects. Available in 40 states and Washington D.C., C-PACER has grown in popularity in the commercial real estate market as an attractive financing mechanism, particularly in a liquidity-constrained lending environment.
NGC partnered with Northrim Bank on the project’s $39 million financing package to facilitate the use of the C-PACER program. $14 million in C-PACER financing will be utilized to fund the hotel’s energy efficiency, water conservation, and seismic resilience measures, which are crucial, due to the frequency of earthquakes in Alaska – known to be the most seismically active state in the U.S. The hotel’s C-PACER-funded energy efficiency measures will enable it to operate with a reduced carbon footprint and lower operating costs.
“We were proud to partner with Northrim Bank to provide an accretive financing package for this outstanding Courtyard by Marriott Hotel, the first new construction C-PACER project in the state. C-PACE is gaining momentum across the U.S. as a cost-effective financing solution for commercial projects pre-, mid-, or post-construction, and we are seeing that momentum build in Alaska – it’s exciting to see the positive impact C-PACER is having on the Alaskan commercial real estate industry,” said Aidan McLaughlin, West Coast Director of Originations at NGC.
About Affinity Hospitality
Affinity Hospitality is a hotel development, consulting and asset management firm providing a full range of acquisition and disposition expertise for its investors, as well as customized strategies proven to enhance hotel value and optimize investor returns by utilizing a unique blend of experience, resources, and relationships. Drawing on decades of experience designing, developing, constructing and operating hotels, Affinity’s objective is to consistently provide the highest possible stakeholder returns by implementing productive, sustainable business strategies. www.affinityhospitality.com
About Nuveen Green Capital
Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the investment manager of TIAA responsible for over $1 trillion in assets under management. Established in 2015 by the C-PACE industry’s founders and standard-setters, Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for commercial real estate owners who seek to improve the energy, water, and resiliency performance of their property. For more information, visit www.nuveen.com/greencapital.
About Northrim Bank
Northrim Bank is an Alaska-based community bank with 20 branches in Anchorage, Eagle River, Fairbanks, Homer, Juneau, Ketchikan, Kodiak, Nome, Sitka, Soldotna, and Wasilla, serving approximately 90% of Alaska’s population; and an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its signature “Superior Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company. For more information, visit www.northrim.com.
About Anchorage C-PACER
The Municipality of Anchorage launched the first C-PACER (Commercial Property Assessed Clean Energy & Resilience) in Alaska in April 2021 and relaunched in 2023 after State Statutes were amended to expand the program’s eligibility scope. C-PACER allows commercial and industrial property owners to implement clean energy & resilience measures to their property and pay back the loan through a voluntary special assessment. For more information, visit www.cpacer.muni.org or contact CPACER@anchorageak.gov.
