Tidewater Capital, Graves Hospitality & EJF Capital Refinances Oakland Hotel With $35M Loan
FINANCED
$35,000,000
California
See Similar DealsHotel15,893 SF
Financed 06/21/2022
FINANCED
Tidewater Capital, Graves Hospitality & EJF Capital Refinances Oakland Hotel With $35M Loan
2225 Telegraph Avenue, Oakland, California 94612, United States
See Similar DealsHotel15,893 SF
Financed 06/21/2022
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$2,202
Total Square Footage:15,893 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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