Madison Realty Capital Provides $210M Loan For Fort Lauderdale Beach Hotel Acquisition By Fort Partners - Nadim Ashi
525 N Fort Lauderdale Beach Blvd, Fort Lauderdale, FL, USA
$210,000,000
$34,046/SF
Building Size
6,168 SF
Asset Type
Hotel
Closing
Dec 8, 2019
About this deal
AI
The hotel located at 525 N Fort Lauderdale Beach Blvd in Fort Lauderdale has been involved in a recent transaction. The loan for this property was provided by Madison Realty Capital. The landlord of the hotel is Fort Partners, represented by Nadim Ashi. The loan amount for the transaction was $210,000,000 and the property consists of 231 units.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $210,000,000
- Address: 525 N Fort Lauderdale Beach Blvd, Fort Lauderdale
- Lender: Madison Realty Capital
- Landlord: Fort Partners - Nadim Ashi
- Units: 231
Josh Zegen and Nadim Ashi were the key individuals involved in this transaction. They were responsible for securing the loan and representing the landlord, respectively.
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93