Updated Oct 28, 2024
Tidewater Capital, Graves Hospitality & EJF Capital Refinances Oakland Hotel With $35M Loan
2225 Telegraph Avenue, Oakland, California 94612, United States
$35,000,000
$2,202/SF
Building Size
15,893 SF
Asset Type
Hotel
Closing
Jun 20, 2022
About this deal
AI
Tidewater Capital, Graves Hospitality, and EJF Capital have secured a $35 million loan to refinance a hotel located at 2225 Telegraph Avenue in Oakland. The loan was obtained on June 21, 2022, and involves an asset with 172 keys. The property is situated in the Oakland market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $35,000,000
- Address: 2225 Telegraph Avenue, Oakland
- Market: Oakland
- Loan Type: Refinance
- Keys: 172
The lender, Tidewater Capital, Graves Hospitality, and EJF Capital, sought representation from Sonnenblick-Eichner Company to facilitate the transaction.
On the Map
$35,000,000
$2,202/SF
Hotel
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Players
Oakland 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93