Joe Bolognese And Garrett Stasand Secure $5.25M Loan For Hotel In Phoenix
FINANCED
$5,250,000
Arizona
See Similar DealsHotel52,014 SF
Financed 07/15/2024
FINANCED
Joe Bolognese And Garrett Stasand Secure $5.25M Loan For Hotel In Phoenix
3400 Nw Grand Ave
See Similar DealsHotel52,014 SF
Financed 07/15/2024
Summary
ARIZONA
Asset Type:Hotel
Price Per Square Foot:$100
Total Square Footage:52,014 SF
Lot Square Footage:190793 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,250,000.00
Monthly NOI$35,000.00
Monthly Debt Service$33,183.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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