Stonehill Provides $30M Refinance Loan For Glendale, San Jose, & Portland Hotels
225 East Wilson Avenue, Glendale, California 91206, United States
$30,000,000
Building Size
—
Asset Type
Hotel
Closing
Jan 6, 2022
AI
The property involved in the transaction is a hotel located at 225 W. Wilson Avenue, 601 SW 11th Avenue, 2105 North 1st Street, and 82 Karina Court. The hotel has a total of 754 keys and is situated in Glendale, San Jose, and Portland, Ore.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $30,000,000
- Address: 225 W. Wilson Avenue, 601 SW 11th Avenue, 2105 North 1st Street, and 82 Karina Court
- Market: Glendale, San Jose, and Portland, Ore.
The lender involved in this transaction is Stonehill, represented by Mathew Crosswy. The loan type is a refinance loan. The landlord of the property is the Shashi Group and Liberty Hotel Investments.
Players
Glendale 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93