CBRE Arranges $55M Loan For Phoenix Airport Hotels From Maxim Capital Group And Beach Point Capital Management
2435 S 47th St (Hilton Phoenix Airport),Phoenix, AZ & 4300 E Washington St,Phoenix, AZ
$55,000,000
Building Size
—
Asset Type
Hotel
Closing
Feb 2, 2023
AI
The Hilton Phoenix Airport property located at 2435 S 47th St and the Crowne Plaza Phoenix Airport located at 4300 E Washington St have been involved in a loan transaction. The loan was provided by Maxim Capital Group and Beach Point Capital Management for a total amount of $55,000,000. Lawrence Britvan from CBRE represented the parties involved in this deal.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $55,000,000
- Lender: Maxim Capital Group & Beach Point Capital Management
- Broker: Lawrence Britvan - CBRE
This loan transaction involves the Hilton Phoenix Airport and Crowne Plaza Phoenix Airport properties in Phoenix, Arizona. The loan amount of $55,000,000 was provided by Maxim Capital Group and Beach Point Capital Management. Lawrence Britvan from CBRE served as the broker representing the parties involved in this deal.
Players
Phoenix 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93