Greenrock Acquires $8.45M Bridge Loan For Waterfall Resort In Prince Of Wales Island, Alaska
320 Dock Street, Ketchikan, Alaska 99901, United States
$8,458,000
$45/SF
Building Size
185,085 SF
Asset Type
Other
Closing
Oct 8, 2021
AI
The property involved in the transaction is a world-class fishing resort called Waterfall Resort located at 320 Dock St. on Prince of Wales Island, Alaska. The property was acquired through a bridge loan of $8,458,000. The sale was facilitated by Ken Dole as the seller, and the transaction was handled by broker Ian Maxwell from Greenrock.
Summary of transaction details
- Property Type: Loan
- Transaction Amount: $8,458,000
- Address: 320 Dock St.
- Market: Prince of Wales Island, Alaska
Greenrock, a commercial real estate structured finance specialist, represented the sponsor in the acquisition of Waterfall Resort. For inquiries, please contact Greenrock at www.greenrockcre.com.
Players
Ketchikan Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.88%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93