Habitat Group Secures $24M Loan For West Brickell Hotel With Lender, Ocean Bank
FINANCED
$24,000,000
Florida
See Similar DealsHotel12,000 SF
Financed 11/14/2019
FINANCED
Habitat Group Secures $24M Loan For West Brickell Hotel With Lender, Ocean Bank
239 Southwest 9th Street
See Similar DealsHotel12,000 SF
Financed 11/14/2019
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$2,000
Total Square Footage:12,000 SF
Transaction Type:Loan
The property involved in this closed transaction is a hotel located at 239 Southwest 9th St in the West Brickell market. The property has a total of 300 units and spans across 12,000 square feet.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $24,000,000
- Lender: Ocean Bank
- Landlord: Habitat Group - Santiago Vanegas
- Brokers: Cervera Real Estate
Habitat Group, represented by Santiago Vanegas, acted as the landlord in this transaction. The loan for the property was provided by Ocean Bank. Cervera Real Estate served as the brokers.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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