Updated Dec 4, 2024
$4.7 Million Refinance Secured For 101-Key Hotel On Stoddard Wells Road In Victorville
16868 Stoddard Wells Road
$4,700,000
$64/SF
Building Size
73,252 SF
Asset Type
Hotel
Closing
Oct 25, 2024
About this deal
AI
The asset involved in this transaction is a hotel located at 16868 Stoddard Wells Road in Victorville. The hotel comprises 101 keys and offers a total square footage of 73,252. The loan amount secured for this property is $4,700,000, classified under refinance type financing. The loan is structured to cover 60% of the property's value, utilizing conventional bank execution without requiring a deposit relationship.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $4,700,000
- Address: 16868 Stoddard Wells Road
- Market: Victorville
- Asset Keys: 101
- Square Footage: 73,252
- Loan Type: Refinance
The transaction was facilitated by brokers James Brandon and Gregory K. Kavoklis from Matthews Real Estate Investment Services. They secured permanent, non-SBA financing for the dual branded hospitality asset in Southern California, ensuring a smooth execution process for their clients.
On the Map
$4,700,000
$64/SF
Hotel
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Victorville Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93