Franklin BSP Realty Trust, Inc Acquires Hotel In Miami For $235M
398 Northeast 5th Street
$235,000,000
Building Size
—
Asset Type
Hotel
Closing
Sep 22, 2022
About this deal
AI
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.
On the Map
$235,000,000
Hotel
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Players
Miami Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93