Lucent Capital Secures $22.1M Construction Loan For Hotel In Cypress
FINANCED
$22,100,000
California
See Similar DealsHotel120,000 SF
Financed
FINANCED
Lucent Capital Secures $22.1M Construction Loan For Hotel In Cypress
5233 Katella Ave Cypress, CA 90720, USA
See Similar DealsHotel120,000 SF
Financed
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$184
Total Square Footage:120000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,100,000.00
Monthly NOI$147,333.33
Monthly Debt Service$139,687.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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