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Franklin BSP Realty Trust, Inc Acquires Hotel In Miami For $235M

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FINANCED
$235,000,000

Florida

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Hotel
Financed 09/22/2022
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FINANCED

Franklin BSP Realty Trust, Inc Acquires Hotel In Miami For $235M

398 Northeast 5th Street

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Hotel
Financed 09/22/2022
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Loan

The Hotel located at 398 NE 5th Street in Miami has been involved in a closed transaction. The property, consisting of 646 keys, was part of a deal handled by Franklin BSP Realty Trust, Inc - Michael Comparato; RMWC as the lender and Property Markets Group as the landlord. The loan amount for this transaction was $235,000,000.

Summary of transation details

  • Property Type: Hotel
  • Transaction Amount: $235,000,000
  • Address: 398 NE 5th Street, Miami
  • Market: Miami
  • Asset Type: Hotel
  • Keys: 646
  • Lender: Franklin BSP Realty Trust, Inc - Michael Comparato; RMWC
  • Landlord: Property Markets Group

Michael Comparato, representing Franklin BSP Realty Trust, Inc, and RMWC played a crucial role as the lender in this transaction. On the other hand, Property Markets Group acted as the landlord. The successful deal resulted in a loan amount of $235,000,000 for the Hotel property located at 398 NE 5th Street in Miami.

Players

LENDER

Details

FINANCED
IMAGE: Michael Comparato DATE: 09/23/2022 ADDRESS: 398 NE 5th Street MARKET: Miami ASSET TYPE: Hotel ~ KEYS: 646 LENDER: Franklin BSP Realty Trust, Inc - Michael Comparato; RMWC LANDLORD: Property Markets Group (@PMGDevelopment) LOAN AMOUNT: $235,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$235,000,000.00

Monthly NOI$1,566,666.67
Monthly Debt Service$1,485,359.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00