Palermo Lender, LLC Provides $2M Acquisition Loan For Jose Maria's Hotel On Airport Road In Jacksonville
FINANCED
$2,000,000
Florida
See Similar DealsHotel261,338 SF
Financed 11/30/2021
FINANCED
Palermo Lender, LLC Provides $2M Acquisition Loan For Jose Maria's Hotel On Airport Road In Jacksonville
1153 Airport Road, Jacksonville, FL, USA
See Similar DealsHotel261,338 SF
Financed 11/30/2021
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$7
Total Square Footage:261,338 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,000,000.00
Monthly NOI$13,333.33
Monthly Debt Service$12,641.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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