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Hayri Dayi Secures $4M Acquisition Loan For Hotel At 132 Isle Of Venice Drive

Property Image
FINANCED
$4,000,000

Florida

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Hotel12,500 SF
Financed 09/04/2024
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Property Image
FINANCED

Hayri Dayi Secures $4M Acquisition Loan For Hotel At 132 Isle Of Venice Drive

132 Isle Of Venice Drive

See Similar Deals
Hotel12,500 SF
Financed 09/04/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$320
Total Square Footage:12,500 SF
Transaction Type:Loan

The asset involved in this transaction is a hotel located at 132 Isle of Venice Drive in the Fort Lauderdale market. The property encompasses 12,500 square feet and consists of 20 keys. The loan amount for this acquisition is $4,000,000 with terms set for 2 years on an interest-only basis.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $4,000,000
  • Asset Address: 132 Isle of Venice Drive
  • Market: Fort Lauderdale
  • Square Footage: 12,500 SF
  • Keys: 20
  • Lender: Berk Ocal - OCAL Capital Corp.
  • Landlord: Hayri Dayi
  • Loan Type: Acquisition
  • Loan Terms: 2 Year Interest Only

Berk Ocal represents OCAL Capital Corp. in the lending of the acquisition loan, while Hayri Dayi is the landlord associated with the property in this transaction.

Players

Berk Ocal
Berk Ocal
5 deals$18.1M volume
LENDER
OCAL Capital
OCAL Capital
LENDER

Details

FINANCED
IMAGE: Hayri Dayi & Berk Ocal DATE: 09/04/2024 ADDRESS: 132 Isle of Venice Drive MARKET: Fort Lauderdale ASSET TYPE: Hotel ~ KEYS: 20 ~ SF: 12,500 LENDER: Berk Ocal (@BerkOcal) - OCAL Capital Corp. (@OcalCapital) LANDLORD: Hayri Dayi LOAN AMOUNT: $4,000,000 LOAN TYPE: Acquisition LOAN TERMS: 2 Year Interest Only

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,000,000.00

Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00