facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Hotel

/

Loan

/

4860 West Kennedy Boulevard

Arden Companies And Crescent Real Estate Secure $47M Refinance Loan For Tampa Hotel
FINANCEDHotel

Arden Companies And Crescent Real Estate Secure $47M Refinance Loan For Tampa Hotel

4860 West Kennedy Boulevard

$47,000,000

Building Size

Asset Type

Hotel

Closing

Oct 17, 2023

AI

An undisclosed hotel property located at 4860 West Kennedy Boulevard in Tampa has undergone a refinancing transaction. The loan amount for this deal was $47,000,000. The property is owned by Arden Companies, with Craig Spencer representing as the landlord. Crescent Real Estate also has a stake in the property, with Jason E. Anderson and Conrad Suszynski as their representatives. The LCP Group, Benefit Street, and Beach Point Capital Management provided the financing for this transaction, with Francis Lively, Thomas Gahan, Scott Klein, and Carl Goldsmith representing each lender respectively. The landlord was assisted by Dustin Stolly, Jordan Roeschlaub, Nick Scribani, and Tyler Dumon of Newmark.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $47,000,000
  • Address: 4860 West Kennedy Boulevard, Tampa
  • Market: Tampa

The key individuals involved in this deal include Craig Spencer from Arden Companies, Jason E. Anderson and Conrad Suszynski from Crescent Real Estate, Francis Lively from The LCP Group, Thomas Gahan from Benefit Street, and Scott Klein and Carl Goldsmith from Beach Point Capital Management. The Newmark team, consisting of Dustin Stolly, Jordan Roeschlaub, Nick Scribani, and Tyler Dumon, provided representation for the landlord in this transaction.

Players

Dustin Stolly

Walker & Dunlop

Broker

$51.1B

vol

273 deals

Broker
Beach Point Capital Management
Beach Point Capital ManagementLender

Tampa Hotel Market Snapshot

Boundary boundary · Hotel · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93