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800 Alvarado Place

Updated Oct 13, 2026

CannonTTM Secures $55 Million Acquisition Loan From Bank Of America For Santa Barbara Hotel
FINANCEDHotel

CannonTTM Secures $55 Million Acquisition Loan From Bank Of America For Santa Barbara Hotel

800 Alvarado Place

$55,000,000

Building Size

—

Asset Type

Hotel

Closing

Jul 5, 2025

About this deal

AI

The asset involved in this transaction is a hotel located at 800 Alvarado Place in Santa Barbara, CA, consisting of 92 keys. The loan amount secured for the acquisition is $55,000,000, facilitated through Bank of America.

Summary of transaction details:

This transaction highlights the involvement of key individuals representing the landlord, including Jonathan Aghravi and Noam Katz from JBA Equities, who facilitated the loan agreement with Bank of America for the acquisition of the hotel property.

On the Map

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$55,000,000

Hotel

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Players

Jonathan Aghravi

JBA Equities

Broker

$1.6B

vol

50 deals

Broker
JBA Equities
JBA EquitiesBrokerage
Bank of America
Bank of AmericaLender
Tyler Mateen

Tyler Mateen

Cannon TTM

Landlord

$428.5M

vol

8 deals

Landlord
Cannon TTM
Cannon TTMLandlord
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Santa Barbara Hotel Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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