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
About this deal
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.
On the Map
$2,000,000
$7/SF
Hotel
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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