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2435 S 47th St (Hilton Phoe...

CBRE Arranges $55M Loan For Phoenix Airport Hotels From Maxim Capital Group And Beach Point Capital Management
FINANCEDHotel

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

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

Lawrence Britvan

CBRE

Broker

$1.1B

vol

6 deals

Broker
Maxim Capital Group
Maxim Capital GroupLender

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