Stearns Bank & Stonehill Provides $19.8M Construction Loan For Fresno Hotel
FINANCED
$19,790,000
California
See Similar DealsHotel94,796 SF
Financed 10/11/2022
FINANCED
Stearns Bank & Stonehill Provides $19.8M Construction Loan For Fresno Hotel
808 M Street, Fresno, California 93721, United States
See Similar DealsHotel94,796 SF
Financed 10/11/2022
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$208
Total Square Footage:94,796 SF
Transaction Type:Loan
The hotel located at 808 M St in Fresno, CA has undergone a recent closed transaction. Covering a total building area of 94,796 square feet, this hotel comprises of 144 keys, making it a significant asset in the market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $19,790,000
- Loan Type: Construction
- Lender: Stearns Bank & Stonehill
- Landlord: Tony Tandi
- Broker: Marc Cesarec - Cesarec Group
The lender responsible for providing the loan in this transaction is Stearns Bank & Stonehill. Representing the landlord in this deal is Tony Tandi. The broker involved in this transaction is Marc Cesarec from Cesarec Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,790,000.00
Monthly NOI$131,933.33
Monthly Debt Service$125,086.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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