Somera Capital Management And Tyler Development Secure $36.3M Loan For Silicon Valley Hotel
FINANCED
$36,300,000
California
See Similar DealsHotel5,235 SF
Financed 04/04/2019
FINANCED
Somera Capital Management And Tyler Development Secure $36.3M Loan For Silicon Valley Hotel
1995 South Bascom Avenue, Campbell, CA, USA
See Similar DealsHotel5,235 SF
Financed 04/04/2019
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$6,934
Total Square Footage:5,235 SF
Transaction Type:Loan
Located at 1995 South Bascom Ave in Silicon Valley, this hotel property was involved in a closed transaction. The property, owned by Somera Capital Management and Tyler Development, attracted a loan from Guggenheim Partners.
Summary of transaction details:
- Property Type: Hotel
- Loan Amount: $36,300,000
- Loan Terms: 12-year
- Lender: Guggenheim Partners
- Landlord: Somera Capital Management and Tyler Development
Guggenheim Partners played a crucial role in this deal by providing the loan for the hotel property. This transaction demonstrates the confidence that Guggenheim Partners has in the potential of the property owned by Somera Capital Management and Tyler Development.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$36,300,000.00
Monthly NOI$242,000.00
Monthly Debt Service$229,440.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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