Black Bear Capital Partners Arranges $8.8M Refinance Loan For Tempe Hotel
1612 N Scottsdale Road
$8,800,000
$880,000/SF
Building Size
10 SF
Asset Type
Hotel
Closing
Feb 2, 2023
About this deal
AI
The 100-key Motel 6 located at 1612 N Scottsdale Road in Tempe, AZ has undergone a successful refinancing. The property, a hotel asset, was refinanced with a 10-year fixed-rate loan totaling $8,800,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,800,000
- Loan Type: Refinance
- Loan Terms: 10-year fixed-rate loan
- Broker: Suraj Desai - Black Bear Capital Partners
The refinancing of the Motel 6 in Tempe was facilitated by Suraj Desai of Black Bear Capital Partners. As the broker representing the deal, Desai played a pivotal role in securing the favorable 10-year fixed-rate loan for the property.
Players
Tempe 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
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93