Michael J. Gefter Secures $7,875,600 Loan For Hotel At 1120 Veterans Memorial Parkway
1120 Veterans Memorial Parkway
$7,875,600
$131/SF
Building Size
59,798 SF
Asset Type
Hotel
Closing
May 10, 2021
About this deal
AI
The property asset involved in this transaction is a hotel located at 1120 Veterans Memorial Parkway in the Tuscaloosa market. The transaction includes a loan amount of $7,875,600.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,875,600.00
- Address: 1120 Veterans Memorial Parkway
- Market: Tuscaloosa
- Brokers: Michael J. Gefter
This transaction features Michael J. Gefter, who represents the interests of the parties involved in the deal. The specific roles of the buyer or seller have not been detailed in the provided context.
On the Map
$7,875,600
$131/SF
Hotel
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Players
Tuscaloosa Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.01%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93