Ryan Bosch Of Arriba Capital Arranges $35.75M Construction Loan For Ormond Beach Hotel
251 South Atlantic Avenue
$35,750,000
$373/SF
Building Size
95,700 SF
Asset Type
Hotel
Closing
Mar 6, 2024
About this deal
AI
The property at 251 South Atlantic Avenue in Ormond Beach, a Hotel with a square footage of 95,700, was involved in a recent transaction that included a Construction Loan of $35,750,000. Contender Development acted as the landlord in this deal.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $35,750,000
- Address: 251 South Atlantic Avenue
- Market: Ormond Beach
- Loan Type: Construction Loan
- Landlord: Contender Development
- Broker: Ryan Bosch - Arriba Capital
Ryan Bosch from Arriba Capital represented the parties involved in securing the $35,750,000 Construction Loan for the Hotel property at 251 South Atlantic Avenue in Ormond Beach.
Players
Ormond Beach 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93