Centennial Bank Provides $109.9M Loan For Pensacola Beach Hotel Acquisition
FINANCED
$109,890,000
Florida
See Similar DealsHotel
Financed 12/12/2022
FINANCED
Centennial Bank Provides $109.9M Loan For Pensacola Beach Hotel Acquisition
12 Via De Luna Drive, Pensacola Beach, Florida 32561, United States
See Similar DealsHotel
Financed 12/12/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Loan
A hotel property located at 12 Via de Luna Dr & 14 Via De Luna Drive in Pensacola Beach has been involved in a recent transaction. The hotel boasts 481 keys and is situated in a prime market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $109,890,000
- Lender: Centennial Bank
- Landlord: Innisfree Hotels - Ted Ent
- Broker: JLL's Hotel & Hospitality Group
- Loan Terms: Five-year loan
The hotel property has been acquired with a loan amount of $109,890,000 from Centennial Bank. The loan terms for this transaction are five years. Innisfree Hotels, represented by Ted Ent, serves as the landlord for this property. JLL's Hotel & Hospitality Group acted as the broker for the deal.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$109,890,000.00
Monthly NOI$732,600.00
Monthly Debt Service$694,579.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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