Updated Feb 16, 2024
Alagem Capital Group And Cain International Secure $500M Loan For Beverly Hills Hotel
9850 Wilshire Blvd, Beverly Hills, CA, USA
$500,000,000
Units
736
Asset Type
Hotel
Closing
Aug 23, 2021
About this deal
AI
The Hotel located at 9850 & 9876 Wilshire Blvd. in Beverly Hills has been involved in a closed property transaction. The property is situated in a desirable market in Beverly Hills.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $500,000,000
- Loan: Aareal Capital & Goldman Sachs Asset Management
- Landlord: Alagem Capital Group - Ted Kahan & Cain International - Jonathan Goldstein
- Units: 736
The loan amount for this transaction is $500,000,000. The property consists of 736 units, making it a significant asset in the hospitality industry. The lenders involved in the transaction are Aareal Capital and Goldman Sachs Asset Management. The landlord is composed of Alagem Capital Group represented by Ted Kahan and Cain International represented by Jonathan Goldstein.
Players
Beverly Hills 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93