FINANCEDHotel
Noam Temchin From FM Capital Arranges $2.85M Permanent Loan For Pompano Beach Hotel
1020 Riverside Drive
$2,850,000
$280/SF
Building Size
10,155 SF
Asset Type
Hotel
Closing
Mar 18, 2024
AI
The hotel property located at 1020 Riverside Drive in Pompano Beach, with a total square footage of 10,155, was involved in a recent transaction. The loan amount for this property was $2,850,000, secured through a Permanent Loan.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $2,850,000
- Market: Pompano Beach
- Lender's Rep: Noam Temchin - FM Capital
- Loan Type: Permanent Loan
Noam Temchin from FM Capital served as the lender's representative in this transaction.
Players
Fort Lauderdale 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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93