Madison Realty Capital Provides $210M Loan For Fort Lauderdale Beach Hotel Acquisition By Fort Partners - Nadim Ashi
FINANCED
$210,000,000
Florida
See Similar DealsHotel6,168 SF
Financed 12/09/2019
FINANCED
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
See Similar DealsHotel6,168 SF
Financed 12/09/2019
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$34,046
Total Square Footage:6,168 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$210,000,000.00
Monthly NOI$1,400,000.00
Monthly Debt Service$1,327,342.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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