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Seven Hills Realty Trust Closes $29M Bridge Loan For SunCoast Park Hotel In Anaheim, California

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FINANCED
$29,000,000

California

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Hotel
Financed 12/05/2023
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Property Image
FINANCED

Seven Hills Realty Trust Closes $29M Bridge Loan For SunCoast Park Hotel In Anaheim, California

1640 South Clementine Street

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Hotel
Financed 12/05/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Hotel
Transaction Type:Loan

Seven Hills Realty Trust (SEVN) closed a $29.0 million bridge loan for the SunCoast Park Hotel Anaheim, part of Hilton's Tapestry Collection. The 174-room hotel in Anaheim, California offers SEVN diversification and an attractive risk-adjusted return with a two-year initial term and three one-year extension options.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $29,000,000
  • Address: 1640 South Clementine Street - SunCoast Park Hotel Anaheim, Tapestry Collection by Hilton
  • Market: Anaheim
  • Keys: 174

Tom Lorenzini of Seven Hills Realty Trust represented the landlord in this transaction.

Details

FINANCED
IMAGE: Tom Lorenzini DATE: 12/05/2023 ADDRESS: 1640 South Clementine Street - SunCoast Park Hotel Anaheim, Tapestry Collection by Hilton MARKET: Anaheim ASSET TYPE: Hotel ~ KEYS: 174 LANDLORD: Seven Hills Realty Trust - Tom Lorenzini LOAN AMOUNT: $29,000,000 LOAN TYPE: Bridge Loan LOAN TERMS: floating rate, two-year initial term with three one-year extension options NOTE: Seven Hills Realty Trust (SEVN) closed a $29.0 million bridge loan for the SunCoast Park Hotel Anaheim, part of Hilton's Tapestry Collection. The 174-room hotel in Anaheim, California, offers SEVN diversification and an attractive risk-adjusted return with a two-year initial term and three one-year extension options.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,000,000.00

Monthly NOI$193,333.33
Monthly Debt Service$183,299.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00