Urban Network Capital Group Secures $24M Construction Loan For Orlando Hotel
4849 West Irlo Bronson Memorial Highway
$24,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 18, 2023
About this deal
AI
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.
On the Map
$24,000,000
Hotel
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Players
Kissimmee Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93