Centennial Bank Provides $10M Construction Loan For Miramar Hotel By DP Hotels
Southwest 27th Street, Miramar, Florida 33027, United States
$10,000,000
$215/SF
Building Size
46,334 SF
Asset Type
Hotel
Closing
Apr 4, 2022
About this deal
AI
The hotel property located at 14575 Southwest 27th Way in Miramar has recently undergone a closed transaction.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Units: 97
- Square Footage: 46,334
- Acreage: 1.9
- Market: Miramar
The lender involved in the transaction was Centennial Bank, providing a construction loan to support the property's development. The landlord of the hotel is DP Hotels.
The hotel loan at Southwest 27th Street, Miramar, Florida 33027, United States in Miramar, Florida financed for $10M in 2022. Reported inventory is 46,334 square feet across 97 units, or about 215 per square foot. This page is the Miramar, Florida file for the Southwest 27th Street, Miramar, Florida 33027, United States hotel financed: pricing, party profiles, and other closed hotel comps from the same Miramar sit in the Market section below. Filter that Miramar hotel set by closing date to see what else financed near Southwest 27th Street, Miramar, Florida 33027, United States around 2022. Published consideration for Southwest 27th Street, Miramar, Florida 33027, United States is $10M, dated 2022. Cite this Centennial Bank Provides $10M Construction Loan For Miramar Hotel By DP Hotels loan when underwriting similar hotel product around Miramar, Florida.
Players
Miramar Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Browse Florida hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93