Canyon Partners Provides $37M Loan For Hotel In Gainesville
1714 Southwest 34th Street, Gainesville, Florida 32607, United States
$37,000,000
$272/SF
Building Size
135,562 SF
Asset Type
Hotel
Closing
Jun 6, 2022
AI
The hotel located at 1714 SW 34th Street in Gainesville has been involved in a recent transaction. The property, consisting of 248 keys, was the subject of the deal.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $37,000,000
- Address: 1714 SW 34th Street
- Market: Gainesville
- Lender: Canyon Partners Real Estate
- Landlord: Arden Group
- Brokers: Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Tyler Dumon, Dan Morin, and Andrew Harwood - Newmark
The lending institution for this transaction was Canyon Partners Real Estate. Arden Group acted as the landlord in the deal. On the other hand, the brokers involved in the transaction were Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Tyler Dumon, Dan Morin, and Andrew Harwood from Newmark.
Players
Gainesville 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93