Navika Capital Group Refinances $40M Hotel Portfolio In Palmdale, Kissimmee, And Ridgefield Park

A 415 key three (3) Hilton-flagged hotel portfolio located at 39375 5th Street W. in Palmdale, CA; 4971 Calypso Cay Way in Kissimmee, FL; and 70 Challenger Road in Ridgefield Park, NJ, has been involved in a recent loan transaction. The loan amount for this hotel asset was $40,000,000 and the loan type was a refinance. The financing terms included a 5-year loan with a fixed rate of 6.25% for the first two (2) years, along with 36 months of interest-only payments. The lender, in this case, was a balance sheet lender.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $40,000,000
• Address: 39375 5th Street W.; 4971 Calypso Cay Way; & 70 Challenger Road
• Market: Palmdale, CA; Kissimmee, FL; & Ridgefield Park, NJ

Navika Capital Group acted as the landlord for this transaction. The brokers involved were Brandon Harris and Suraj Desai, representing Black Bear Capital Partners. These individuals played a significant role in facilitating the loan transaction.