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82779 Old State Highway, Is...

Mast Capital Secures $40 Million Loan For Hotel Acquisition In Islamorada
FINANCEDHotel

Mast Capital Secures $40 Million Loan For Hotel Acquisition In Islamorada

82779 Old State Highway, Islamorada, Fl, 33036

$40,000,000

Building Size

Asset Type

Hotel

Closing

Jul 17, 2026

AI

The property asset involved in the transaction is a hotel located at 82779 Old State Highway, in the market of Islamorada. The hotel comprises 29 keys and is associated with an acquisition loan amounting to $40,000,000. The loan is structured with a 3-year floating-rate term.

Summary of transaction details:

Key individuals and firms in this transaction include Rachel Callaghan and Greg Sullivan, who represent The Ardent Companies as lenders. The landlords, Jordan Kornberg, Isaac Chocron, and Camilo Miguel, Jr., are affiliated with Mast Capital. Additionally, the landlords are represented by a team from Berkadia, which consists of Scott Wadler, Matt Jackson, Mitch Sinberg, Brad Williamson, Mitch Brad, and Matt Robbins.

Players

Brad Williamson

Berkadia

Broker

$7.3B

vol

117 deals

Broker
Greg Sullivan

Greg Sullivan

The Ardent Companies

Lender

$217.4M

vol

7 deals

Lender
The Ardent Companies
The Ardent CompaniesLender

Jordan Kornberg

Mast Capital

Landlord

$40M

vol

1 deal

Landlord

Islamorada 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

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93