Strategic Property Partners Secures $150M Loan For Hotel In Tampa
510 Water St, Tampa, FL, 33602
$150,000,000
Building Size
—
Asset Type
Hotel
Closing
Jul 29, 2022
About this deal
AI
The property asset involved is a Hotel located at 510 Water St, Tampa, FL, 33602 in the Tampa market. The loan amount for this transaction is $150,000,000.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $150,000,000.00
- Address: 510 Water St, Tampa, FL, 33602
- Borrower: Strategic Property Partners
The transaction involved Strategic Property Partners as the borrower for the $150,000,000 loan.
The hotel loan at 510 Water St, Tampa, FL, 33602 in Tampa, Florida financed for $150M in 2022. 510 Water St, Tampa, FL, 33602 is classified as Hotel on Traded. Named participants on the 510 Water St, Tampa, FL, 33602 loan are Tom Goodsite. This page is the Tampa, Florida file for the 510 Water St, Tampa, FL, 33602 hotel financed: pricing, party profiles, and other closed hotel comps from the same Tampa sit in the Market section below. Filter that Tampa hotel set by closing date to see what else financed near 510 Water St, Tampa, FL, 33602 around 2022. Published consideration for 510 Water St, Tampa, FL, 33602 is $150M, dated 2022. Cite this Strategic Property Partners Secures $150M Loan For Hotel In Tampa loan when underwriting similar hotel product around Tampa, Florida.
Players
Tampa 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93