Twenty8 Group And Adelon Capital Secures $17.9M Construction Loan For Melbourne Hotel
100 West Nasa Boulevard, Melbourne, Florida 32901, United States
$17,934,000
$193/SF
Building Size
92,841 SF
Asset Type
Hotel
Closing
Jan 31, 2022
About this deal
AI
Located at 100 West Nasa Blvd in Melbourne, this hotel property with 143 keys and a total square footage of 92,841 is the subject of a recent closed transaction. The property, situated in the Melbourne market, has recently undergone construction.
Summary of Transaction Details:
- Property Type: Hotel
- Transaction Amount: $17,934,000
- Lender: Abanca USA - Monica Vazquez
- Landlord: Twenty8 Group - Bryan Cohen & Jhonny Stathopoulou; Adelon Capital - Jonathan Cohen & Daniel Berman
Monica Vazquez from Abanca USA served as the lender in this transaction. The landlord entities involved in the deal are Twenty8 Group represented by Bryan Cohen and Jhonny Stathopoulou, as well as Adelon Capital represented by Jonathan Cohen and Daniel Berman.
Players
Melbourne 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93