Updated Dec 20, 2023
Black Bear Capital Partners Arranges $27.5M Acquisition Loan For 204-Key Hotel In San Jose, CA
2560 Fontaine Road, San Jose, California 95121, United States
$27,500,000
Building Size
—
Asset Type
Hotel
Closing
May 17, 2022
About this deal
AI
The acquisition of the Motel 6 located at 2560 Fontaine Road in San Jose, CA has been financed with a nonrecourse floating-rate senior loan and fixed-rate mezzanine financing. The hotel comprises of 204 keys and the loan amount for this transaction is $27,500,000. The loan is an acquisition loan and features full-term interest-only payments.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $27,500,000
- Address: 2560 Fontaine Road, San Jose, CA
- Market: San Jose, CA
- Asset Type: Hotel
- Keys: 204
The acquisition of the Motel 6 was made possible through the efforts of Suraj Desai from Black Bear Capital Partners, who served as the broker for this deal.
Players
San Jose Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Browse California hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93