Joe Bolognese And Garrett Stasand Secure $5.25M Loan For Hotel In Phoenix
3400 Nw Grand Ave
$5,250,000
$100/SF
Building Size
52,014 SF
Asset Type
Hotel
Closing
Jul 15, 2024
AI
The asset involved in this transaction is a hotel located at 3400 Nw Grand Ave in the Phoenix market. The total loan amount for the property is $5,250,000.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $5,250,000.00
- Address: 3400 Nw Grand Ave
- Market: Phoenix
- Brokers: Joe Bolognese, Garrett Stasand (Cushman & Wakefield)
This transaction involved key representatives including Joe Bolognese and Garrett Stasand, with the latter representing Cushman & Wakefield in the deal. Their involvement was critical in facilitating the transaction process.
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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93