Southern Hospitality Management And Development Secures $19M Refinancing Loan For Orlando Hotel
7950 Palm Parkway, Orlando, FL, USA
$19,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 9, 2021
AI
On December 9, 2021, a hotel located at 7950 Palm Parkway in Orlando, Florida, was involved in a closed transaction. The hotel comprises 141 keys and is owned by Southern Hospitality Management and Development.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $19,000,000
- Loan Type: Refinancing Loan
- Loan Terms: Three-year, adjustable-rate loan
- Lender: ACRES Capital
- Landlord: Southern Hospitality Management and Development
- Brokers: Michael Weinberg & Wyatt Krapf - Berkadia Hotels & Hospitality
ACRES Capital provided a refinancing loan of $19,000,000 for the hotel. The loan has a three-year term and an adjustable interest rate. Michael Weinberg and Wyatt Krapf, representing Berkadia Hotels & Hospitality, acted as brokers in the transaction.
Players
Orlando 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93