BlackRock Provides $72.25M Loan For Hotel In St. Pete Beach
6300 Gulf Boulevard, St. Pete Beach, Florida 33706, United States
$72,250,000
Building Size
—
Asset Type
Hotel
Closing
Mar 13, 2022
AI
A hotel property located at 6300 Gulf Blvd in St. Pete Beach has been involved in a closed transaction. The property, consisting of 196 keys, was sold for a loan amount of $72,250,000. The landlord for this transaction was LCP Group & Safanad.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $72,250,000
- Address: 6300 Gulf Blvd
- Market: St. Pete Beach
- Keys: 196
The lender in this transaction was blackrock''>BlackRock, represented by Larry Fink. Larry Fink acted as the lender's representative in this deal.
Players
St Pete Beach 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