Palermo Lender, LLC Provides $2M Acquisition Loan For Jose Maria's Hotel On Airport Road In Jacksonville
1153 Airport Road, Jacksonville, FL, USA
$2,000,000
$7/SF
Building Size
261,338 SF
Asset Type
Hotel
Closing
Nov 30, 2021
AI
The hotel located at 1153 Airport Road in Jacksonville has recently undergone a closed property transaction. The property encompasses 6 acres of land and consists of 201 keys. The transaction took place on 11/30/2021.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 1153 Airport Road
- Market: Jacksonville
- Number of Keys: 201
- Acreage: 6 acres
The lender, Palermo Lender, LLC, provided the acquisition loan for this transaction. The loan amount was $2,000,000, and it was a 24-month senior-secured acquisition bridge facility. Eitan Gamburd, representing Palermo Lender, LLC, played a vital role in facilitating the loan agreement. As for the landlord, Jose Maria was involved in the transaction, although further details about their role were not provided.
Players
Jacksonville 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93