Updated Dec 4, 2024
Black Bear Capital Partners Secures $8.3M Refinance Loan For Calexico Hotel
2501 Scaroni Road
$8,300,000
$830,000/SF
Building Size
10 SF
Asset Type
Hotel
Closing
Nov 2, 2023
About this deal
AI
The property involved in this transaction is located at 2501 Scaroni Road in Calexico, CA. It is an existing hotel currently operating as a Holiday Inn Express with plans to be converted into a 78-key Hampton Inn. The property has been refinanced with a 10-year fixed rate loan.
Summary of transaction details
- Property Type: Hotel
- Loan Amount: $8,300,000
- Loan Type: Refinance
- Loan Terms: The 10-year fixed rate loan includes the first 18 months interest only for renovation purposes.
The capital advisory for this transaction was provided by Suraj Desai from Black Bear Capital Partners. Suraj Desai represented the borrower in this loan refinancing deal.
Players
Calexico Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Visit Suraj Desai to view all their deals.
Browse Calexico hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93