Updated Sep 5, 2024
Lucent Capital Secures $22.1M Construction Loan For Hotel In Cypress
5233 Katella Ave Cypress, CA 90720, USA
$22,100,000
$184/SF
Building Size
120,000 SF
Asset Type
Hotel
Closing
Jun 28, 2023
About this deal
AI
The property involved in this transaction is a Hotel located at 5233 Katella Avenue in Cypress. The property spans a total area of 120,000 square feet. The transaction took place on June 28, 2023.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $22,100,000
- Address: 5233 Katella Avenue
- Market: Cypress
- BROKERS: Adam Emrani & Jerry Peterson - Lucent Capital
- Loan Type: Construction Loan
The deal was facilitated by the brokers Adam Emrani and Jerry Peterson from Lucent Capital. They represented their respective clients in securing the construction loan for the Hotel.
On the Map
$22,100,000
$184/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93