Sheridan Capital Provides $2.24M Bridge Loan For Pompano Beach Hotel At 3208 NE 11th St
3208 Northeast 11th Street, Pompano Beach, Florida 33062, United States
$2,240,000
$415/SF
Building Size
5,389 SF
Asset Type
Hotel
Closing
Jun 13, 2022
About this deal
AI
Located at 3208 NE 11th St in Pompano Beach, this hotel property with 23 keys has recently undergone a closed transaction. The deal was facilitated by Judy Zucker, representing Sheridan Capital as the lender.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $2,240,000
- Address: 3208 NE 11th St, Pompano Beach
- Market: Pompano Beach
- Loan Type: Bridge Loan
Judy Zucker, acting on behalf of Sheridan Capital, provided a bridge loan of $2,240,000 for the hotel property. The transaction signifies an important milestone for both the borrower and the lender.
Players
Pompano 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
7.08%
Cash-on-Cash
-2.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93