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Citizens Bank Provides $30.5M Loan For Hotel In San Jose

Property Image
FINANCED
$30,500,000

California

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Hotel27,676 SF
Financed 02/06/2019
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Property Image
FINANCED

Citizens Bank Provides $30.5M Loan For Hotel In San Jose

111 East Gish Road

See Similar Deals
Hotel27,676 SF
Financed 02/06/2019
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$1,102
Total Square Footage:27,676 SF
Transaction Type:Loan

The asset involved in this transaction is a hotel located at 111 East Gish St. in San Jose. The property was sold by Westlake Realty Group and the deal was facilitated by the brokerage firm CBRE. The loan for this transaction was provided by Citizens Bank in the amount of $30,500,000.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $30,500,000
  • Address: 111 East Gish St.
  • Market: San Jose

William H.C. Chang captured an image of the property, which can be viewed on Instagram.

Players

Citizens
Citizens
LENDER

Details

FINANCED
IMAGE: William H.C. Chang DATE: 02/06/2019 ADDRESS: 111 East Gish St. MARKET: San Jose ASSET TYPE: Hotel LENDER: Citizens Bank LANDLORD: Westlake Realty Group BROKERS: @CBRE LOAN AMOUNT: $30,500,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,500,000.00

Monthly NOI$203,333.33
Monthly Debt Service$192,780.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00