Urban Network Capital Group Secures $24M Construction Loan For Orlando Hotel
FINANCED
$24,000,000
Florida
See Similar DealsHotel
Financed 10/18/2023
FINANCED
Urban Network Capital Group Secures $24M Construction Loan For Orlando Hotel
4849 West Irlo Bronson Memorial Highway
See Similar DealsHotel
Financed 10/18/2023
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Loan
A construction loan has been secured by Urban Network Capital Group for a hotel property located at 4849 West Irlo Bronson Memorial Highway in Orlando. The loan, provided by LV Lending, amounts to $24,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $24,000,000
- Lender: LV Lending
- Landlord: Urban Network Capital Group - Robert Thorne
Urban Network Capital Group, led by Robert Thorne, successfully obtained a construction loan from LV Lending for their hotel property in Orlando. The loan will provide necessary funds for the construction and development of the hotel, contributing to the growth of the hospitality market in the area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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