Updated Aug 10, 2026
Michael J. Gefter Represents United Security Bank In $4,500,000 Hotel Loan In Porterville
935 W Morton Ave
$4,500,000
$129/SF
Building Size
34,860 SF
Asset Type
Hotel
Closing
Dec 14, 2022
About this deal
AI
The asset involved in this transaction is a hotel located at 935 W Morton Ave in the Porterville market. The loan secured for this property amounts to $4,500,000.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,500,000.00
- Lender: United Security Bank
- Broker: Michael J. Gefter
This transaction highlights the involvement of Michael J. Gefter as the broker representing the deal. The financing was facilitated by United Security Bank, indicating a structured approach to property financing in the Porterville area.
Players
Porterville 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93