Updated Dec 21, 2023
Black Bear Capital Partners Secures $18.7M Loan For Livermore & Walnut Creek Hotel Portfolio
4673 Lassen Road, Livermore, California 94551, United States
$18,700,000
Building Size
—
Asset Type
Hotel
Closing
Jul 26, 2022
About this deal
AI
The two-property Motel 6 portfolio, located at 4673 Lassen Road in Livermore and 2389 North Main Street in Walnut Creek, was recently acquired through an acquisition loan. The hotel assets, encompassing a total of 177 keys, have been financed with a 5-year term and a 25-year amortization senior loan, accompanied by fixed-rate mezzanine financing. The loan amount secured for this transaction amounts to $18,700,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $18,700,000
- Market: Livermore and Walnut Creek
Suraj Desai, operating under Black Bear Capital Partners, played a pivotal role in this deal, serving as the broker responsible for representing the parties involved in the transaction.
Players
Livermore 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
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93