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Continental Partners Provides $37.5M Bridge Loan For Galleria Park Hotel In San Francisco

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FINANCED
$37,500,000

California

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Hotel109,673 SF
Financed 05/06/2022
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FINANCED

Continental Partners Provides $37.5M Bridge Loan For Galleria Park Hotel In San Francisco

191 Sutter Street, San Francisco, California 94115, United States

See Similar Deals
Hotel109,673 SF
Financed 05/06/2022
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Summary

CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$341
Total Square Footage:109,673 SF
Transaction Type:Loan

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $37,500,000
  • Address: 191 Sutter St.
  • Market: Financial District, San Francisco
  • SF: 109,673
  • Keys: 177
  • Lender: Continental Partners
  • Landlord: Galleria Park Hotel Group
  • Brokers: Ryan Foster & Mitch Paskover - Continental Partners

Players

Mitch Paskover
13 deals$775.2M volume
BROKER

Ryan Foster
Continental Partners
1 deal$37.5M volume
BROKER

Continental Partners
LENDER

Details

FINANCED
IMAGE: Mitch Paskover & Ryan Foster DATE: 05/06/2022 ADDRESS: 191 Sutter St. MARKET: Financial District, San Francisco ASSET TYPE: Hotel ~ SF: 109,673 ~ KEYS: 177 LENDER: Continental Partners LANDLORD: Galleria Park Hotel Group BROKERS: Ryan Foster & Mitch Paskover (@Mitch8181) - Continental Partners LOAN AMOUNT: $37,500,000 LOAN TYPE: Bridge LOAN TERMS: 3 year non-recourse bridge loan at 5.90% to stabilize operations post-Covid

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,500,000.00

Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00