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Garrett Fierstein Of Marcus & Millichap Capital Corporation Secures $7.76M Loan For Cocoa Hotel

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FINANCED
$7,764,750

Florida

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Hotel
Financed 08/18/2025
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Property Image
FINANCED

Garrett Fierstein Of Marcus & Millichap Capital Corporation Secures $7.76M Loan For Cocoa Hotel

900 Friday Road

See Similar Deals
Hotel
Financed 08/18/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Loan

The asset involved in this transaction is a hotel with 154 units, located at 900 Friday Road in Cocoa, FL. The property is characterized as an extended-stay hotel, and the total loan amount arranged for this asset is $7,764,750, secured by a local credit union.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $7,764,750
  • Loan Terms: 10-year loan, 7.25% interest rate, 25-year amortization period, 60% loan-to-value
  • Broker: Garrett Fierstein
  • Agency: Marcus & Millichap Capital Corporation
  • Market: Cocoa

The financing for Cocoa Lofts, an extended-stay property, was arranged by Garrett Fierstein representing Marcus & Millichap Capital Corporation on behalf of a private client. The structured loan is part of a long-term financing strategy for the property.

Players

Garrett Fierstein
Marcus & Millichap
Garrett Fierstein
21 deals$126.6M volume
BROKER

Details

FINANCED
IMAGE: Garrett Fierstein DATE: 08/18/2025 ADDRESS: 900 Friday Road MARKET: Cocoa ASSET TYPE: Hotel ~ UNITS: 154 BROKER: Garrett Fierstein - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $7,764,750 LOAN TERMS: 10-year loan include a 7.25% interest rate with a 25-year amortization period and 60% loan-to-value NOTE: Marcus & Millichap Capital Corporation arranged $7.76M in financing for Cocoa Lofts, a 154-unit extended-stay property in Cocoa, FL, on behalf of a private client. The 10-year loan, secured with a local credit union, carries a 7.25% rate, 25-year amortization, and 60% LTV.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,764,750.00

Monthly NOI$51,765.00
Monthly Debt Service$49,078.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00