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VICI Properties Provides $140.1M Mortgage Financing For Canyon Ranch Tucson And Canyon Ranch Lenox
FINANCED
$140,135,000
Arizona
See Similar DealsHotel
Financed 08/22/2023
FINANCED
VICI Properties Provides $140.1M Mortgage Financing For Canyon Ranch Tucson And Canyon Ranch Lenox
8600 East Rockcliff Road Tucson, Arizona 85750, USA
See Similar DealsHotel
Financed 08/22/2023
Summary
ARIZONA
Asset Type:Hotel
Transaction Type:Loan
VICI Properties Inc., an experiential real estate investment trust, has provided mortgage financing of $140,135,000 for Canyon Ranch Tucson and Canyon Ranch Lenox. The loan was secured for the hotel properties located at 8600 E Rockcliff Rd in Tucson, AZ and 165 Kemble St in Lenox, MA.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $140,135,000
- Market: Tucson, AZ & Lenox, MA
- Lender: Vici Properties
As part of the mortgage financing, VICI Properties Inc. is providing funding to support the operations and development of Canyon Ranch Tucson and Canyon Ranch Lenox. This transaction highlights VICI Properties' commitment to investing in experiential real estate ventures, particularly in the hotel sector.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$140,135,000.00
Monthly NOI$934,233.33
Monthly Debt Service$885,748.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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