Värde Partners Refinances 671-Key Hotel In San Diego With $148M Loan
FINANCED
$148,000,000
California
See Similar DealsHotel292,000 SF
Financed 10/29/2021
FINANCED
Värde Partners Refinances 671-Key Hotel In San Diego With $148M Loan
500 Hotel Cir N, San Diego, CA, USA
See Similar DealsHotel292,000 SF
Financed 10/29/2021
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$506
Total Square Footage:292,000 SF
Transaction Type:Loan
The Hotel located at 500 Hotel Cir. N. in San Diego has undergone a significant financial transaction. The property, with a total size of 292,000 square feet spread over 31 acres, is a hotel with 671 keys. The transaction involved a loan for the property.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $148,000,000
- Address: 500 Hotel Cir. N., San Diego
- Market: San Diego
- Size: 292,000 square feet
- Acres: 31 acres
- Number of Keys: 671
The loan, which amounted to $148,000,000, served as a refinance for the property. The transaction was facilitated by brokers Scott Hall and Aaron Lapping from Berkadia. The two brokers represented the relevant parties involved in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$148,000,000.00
Monthly NOI$986,666.67
Monthly Debt Service$935,460.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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