Updated Mar 24, 2026
Black Bear Capital Partners ("BBCP") Secures $13.3M Refinance for Dual-Branded Hotel in Avondale, LA
Avondale Avenue
$13,300,000
$13,300,000/SF
Building Size
1 SF
Asset Type
Hotel
Closing
Aug 28, 2024
About this deal
AI
The asset involved in this transaction is Candlewood Suites & Suburban Inn located in Avondale, LA. This hotel has a total of 181 keys and is being refinanced for an amount of $13,300,000. The loan is structured with 18-months of interest-only payments, followed by a mini-perm, with a loan-to-value ratio of 70%.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $13,300,000
- Loan Type: Refinance
- Loan Terms: 18-month interest only followed by a mini-perm at 70% LTV
- Capital Markets Advisor: Suraj Desai - Black Bear Capital Partners
- Date: 08/28/2024
- Address: Candlewood Suites & Suburban Inn – New Orleans
Suraj Desai from Black Bear Capital Partners played a key role in advising on this transaction, facilitating the refinance process for the property. The deal underscores the activities of investment professionals within the capital markets sector.
On the Map
$13,300,000
$13,300,000/SF
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93