Black Bear Capital Partners Arranges $10M Acquisition Loan For 118-key Boutique Hotel Suites In Tempe, AZ

The Boutique Hotel Suites and Extended Stay located at 1429 N Scottsdale Road in Tempe, AZ was recently acquired in a closed transaction. The hotel features 118-keys and was sold for an undisclosed price.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: Undisclosed
• Loan Amount: $10,000,000
• Loan Type: Acquisition
• Loan Terms: The acquisition of the Boutique Hotel Suites and Extended Stay, totaling 118-keys, was acquired with a 1-year floating rate loan and interest-only payments for the entirety of the term.
• Broker: Suraj Desai - Black Bear Capital Partners

The deal was facilitated by Suraj Desai from Black Bear Capital Partners, who represented the buyer in securing a $10,000,000 acquisition loan. The terms of the loan include a 1-year floating rate and interest-only payments throughout the loan term.