Sammy Gil Of Fairwinds Credit Union Provides $7.65M Refinance Loan For Fort Walton Beach Hotel
407 Miracle Strip Parkway Southwest
$7,650,000
$168/SF
Building Size
45,282 SF
Asset Type
Hotel
Closing
Feb 6, 2025
AI
The property asset involved in this transaction is a hotel located at 407 Miracle Strip Parkway Southwest in Fort Walton Beach. It features a total of 80 keys and encompasses a square footage of 45,282. The loan associated with this property is a refinance valued at $7,650,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,650,000
- Address: 407 Miracle Strip Parkway Southwest
- Market: Fort Walton Beach
- Asset Size: 80 keys
- Total Square Footage: 45,282
- Lender: Sammy Gil - Fairwinds Credit Union
- Attorney: Adam J. Weiss & Sebastian Bohorquez - Weiss Law
- Loan Type: Refinance
The deal involved key individuals including Sammy Gil of Fairwinds Credit Union who served as the lender. Additionally, the legal representation was provided by Adam J. Weiss and Sebastian Bohorquez from Weiss Law, highlighting the professional support behind the transaction.
Players
Fort Walton 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
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93