Sheridan Capital Provides $11M Bridge Loan For Fort Lauderdale Hotel
4900 Powerline Rd, Fort Lauderdale, FL, USA
$11,000,000
$89/SF
Building Size
123,092 SF
Asset Type
Hotel
Closing
Aug 12, 2021
About this deal
AI
A hotel located at 4900 Powerline Rd in Fort Lauderdale has been involved in a recent transaction. The loan for this property was provided by Sheridan Capital. The brokers involved in this deal were Joe Back and Aaron Kurlansky.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $11,000,000
- Loan Type: Bridge
The lenders, Sheridan Capital, played a key role in providing the loan for this hotel property. Joe Back and Aaron Kurlansky, the brokers representing the parties involved in the transaction, facilitated the deal.
Please note that the CONTEXT provided does not mention any additional details for inclusion in the article.On the Map
$11,000,000
$89/SF
Hotel
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Players
Fort Lauderdale 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93