Black Bear Capital Partners ("BBCP") Arranges $10M Permanent Refinance for Tempe Hotel Asset
FINANCED
$10,000,000
Arizona
See Similar DealsHotel1 SF
Financed 08/15/2024
FINANCED
Black Bear Capital Partners ("BBCP") Arranges $10M Permanent Refinance for Tempe Hotel Asset
1429 North Scottsdale Road
See Similar DealsHotel1 SF
Financed 08/15/2024
Summary
ARIZONA
Asset Type:Hotel
Price Per Square Foot:$10,000,000
Total Square Footage:1 SF
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 1429 North Scottsdale Road in Tempe, AZ, consisting of 118 keys. The transaction involved a refinance loan amounting to $10,000,000 with a duration of 10 years for the permanent loan.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: 10 year permanent loan
- Market: Tempe, AZ
- Capital Markets Advisor: Suraj Desai - Black Bear Capital Partners
Suraj Desai represented Black Bear Capital Partners in this transaction, facilitating the refinance of the hotel asset. His role involved advising on the financial structure and execution of the loan agreement, ensuring the interests of the property owner were met throughout the refinancing process.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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