Black Bear Capital Partners Arranges $7.8M Refinance Loan For Tucson Sheraton Hotel
5151 E Grant Rd Tucson, AZ 85712, USA
$7,762,000
Building Size
—
Asset Type
Hotel
Closing
Jun 21, 2023
About this deal
AI
The full-service Sheraton Tucson Hotel & Suites, located at 5151 E Grant Road in Tucson, AZ, has been refinanced. The hotel features 216-keys and was refinanced through a 5-year loan at a fixed rate of 6.75%. The loan amount for the refinancing was $7,762,000. There is no prepayment penalty associated with this loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $7,762,000
- Address: 5151 E Grant Road, Tucson, AZ
- Market: Tucson, AZ
- Asset Type: Hotel
- Keys: 216
The refinancing of the Sheraton Tucson Hotel & Suites was facilitated by Suraj Desai from Black Bear Capital Partners. As the broker representing the transaction, Suraj Desai played a key role in ensuring the successful completion of the refinancing deal.
Players
Tucson 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
2.04%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93