Excel Group Refinances Homewood Suites / Hilton Garden Inn Jacksonville For $25.65M
1201 Kings Avenue
$25,650,000
Building Size
—
Asset Type
Hotel
Closing
Oct 20, 2023
AI
The Excel Group has secured a $25,650,000 refinance loan for the Homewood Suites / Hilton Garden Inn Jacksonville located at 1201 Kings Avenue. This hotel property, consisting of 221 keys, is situated in the vibrant market of Jacksonville.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $25,650,000
- Address: 1201 Kings Avenue - Homewood Suites / Hilton Garden Inn Jacksonville
- Market: Jacksonville
- Keys: 221
The loan transaction was facilitated by Berkadia, with brokers Alec Fox, Michael Weinberg, Edmund Aramayo, and Lindsey deButts representing the Excel Group. They played a crucial role in securing the refinance loan for this hotel property in Jacksonville.
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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93