Mast Capital Secures $72.5M Refinance Loan For Hotel At 5700 Saddlebrook Way
5700 Saddlebrook Way
$72,500,000
$72,500,000/SF
Building Size
1 SF
Asset Type
Hotel
Closing
Dec 13, 2024
About this deal
AI
The property asset involved in this transaction is a hotel located at 5700 Saddlebrook Way in Wesley Chapel. The asset has keys totaling 495 and is associated with a refinance loan amounting to $72,500,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $72,500,000
- Lender: Shin Bowers & Andrew Chen - Beach Point Capital
- Landlord: Mast Capital
- Brokers: Chris Drew, Brian Gaswirth, Paul Adams, Nicole Barba & Jeff Bucaro - JLL
- Loan Type: Refinance
- Date: 12/13/2024
The deal involves key individuals such as Shin Bowers and Andrew Chen, who represent Beach Point Capital as the lenders for the transaction. The brokers facilitating this deal include Chris Drew, Brian Gaswirth, Paul Adams, Nicole Barba, and Jeff Bucaro, representing JLL in the process.
On the Map
$72,500,000
$72,500,000/SF
Hotel
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Players
Wesley Chapel 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93