HB Titan Provides $25M Loan For Recapitalization Of Coral Gables Hotel
1200 Anastasia Avenue, Coral Gables, FL 33134, USA
$25,000,000
$444/SF
Building Size
56,301 SF
Asset Type
Hotel
Closing
Sep 14, 2021
About this deal
AI
The Biltmore Hotel in Coral Gables has recently undergone a recapitalization with a loan amount of $25,000,000. The loan was provided by HB Titan, represented by Alex Chan and Christian Teixidor. The recapitalization transaction took place on September 14, 2021. The hotel, situated at 1200 Anastasia Ave, spans over 150 acres in the Coral Gables market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $25,000,000
- Address: 1200 Anastasia Ave, Coral Gables
- Market: Coral Gables
- Acres: 150
Brokers involved in the deal include Scott Wadler, Wyatt Krapf, and Preston Reid from Berkadia. They represented the interests of the parties throughout the transaction.
Players
Coral Gables 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93