Updated Dec 4, 2024
PSRS Secures $9.1M Refinance Loan For Cortona Inn In Anaheim
2029 South Harbor Boulevard
$9,100,000
Building Size
—
Asset Type
Hotel
Closing
Apr 29, 2024
About this deal
AI
The Cortona Inn and Suites, a hotel property located at 2029 South Harbor Boulevard in Anaheim, has undergone a refinancing deal worth $9,100,000. The hotel features 127 guest rooms and is conveniently situated near the Anaheim Convention Center and Disneyland.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $9,100,000
- Address: 2029 South Harbor Boulevard, Anaheim
- Market: Anaheim
- Asset Type: Hotel
- Keys: 127
Ari Zeen and Michael Thorp from PSRS- Pacific Southwest Realty Services played a crucial role in securing a seven-year loan of $9.1 million for the Cortona Inn and Suites through a bank execution on behalf of an undisclosed borrower.
Players
Anaheim Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93