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Marcus & Millichap Capital Facilitates $9.1M Acquisition Loan For Holiday Inn Express In Colorado Springs
FINANCED
$9,100,000
Colorado
See Similar DealsHotel
Financed 06/27/2023
FINANCED
Marcus & Millichap Capital Facilitates $9.1M Acquisition Loan For Holiday Inn Express In Colorado Springs
9856 Federal Drive Colorado Springs, Colorado 80921, USA
See Similar DealsHotel
Financed 06/27/2023
Summary
COLORADO
Asset Type:Hotel
Transaction Type:Loan
The Holiday Inn Express & Suites in Colorado Springs has secured acquisition financing of $9.1 million. The 87-key hotel, built in 2018, is strategically located near major companies and the United States Air Force Academy. It is situated at 9856 Federal Drive, in the vibrant market of Colorado Springs, CO.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $9,100,000
- Address: 9856 Federal Drive, Colorado Springs, CO
- Market: Colorado Springs, CO
- Keys: 87
Philip Gause and Tyler Waller from Marcus & Millichap Capital Corporation served as brokers in arranging the acquisition financing for the Holiday Inn Express & Suites in Colorado Springs. Their expertise in the market and strong connections within the industry contributed to the successful completion of the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,100,000.00
Monthly NOI$60,666.67
Monthly Debt Service$57,518.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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