Updated Dec 19, 2023
Suraj Desai Acquires 79-key Country Inn And Suites Hotel In Redlands, CA With $8.65M Loan
1650 Industrial Park Avenue, Redlands, California 92374, United States
$8,645,000
$165/SF
Building Size
52,344 SF
Asset Type
Hotel
Closing
Feb 2, 2022
About this deal
AI
A 79-key Country Inn and Suites hotel located at 1650 Industrial Park Ave in Redlands, CA has been acquired through an acquisition loan. The loan amount for this transaction is $8,645,000 with an interest rate of 4.50%. Suraj Desai from lackBearCapitalPartners served as the broker for this deal.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,645,000
- Address: 1650 Industrial Park Ave, Redlands, CA
- Market: Redlands, CA
Suraj Desai from lackBearCapitalPartners acted as the broker in this acquisition loan for the 79-key Country Inn and Suites hotel. This transaction involved a 10-year loan with a 4.50% interest rate.
Players
Redlands 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
1.83%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93