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Little Palm Island Resort, ...

Mast Capital & RWN Management Provide $30.5M Loan For Little Palm Island Resort
FINANCEDOther

Mast Capital & RWN Management Provide $30.5M Loan For Little Palm Island Resort

Little Palm Island Resort, Summerland Key, FL, USA

$30,500,000

$166/SF

Building Size

182,952 SF

Asset Type

Other

Closing

Jan 11, 2021

AI

The Little Palm Island Resort, located in Summerland Key, has been involved in a recent transaction. This private island resort spans across 4.1 acres and features a stunning tropical setting.

Summary of transation details

  • Property Type: Private Island Resort
  • Transaction Amount: $30,500,000
  • Address: Little Palm Island Resort, Summerland Key
  • Market: Summerland Key
  • Asset Type: Private Island Resort
  • Acres: 4.1

The deal involved Mast Capital and RWN Management as the lenders and Noble House Hotels & Resorts as the landlord. The transaction was facilitated by Patrick Brown from the Sonnenblick-Eichner Company.

Players

Patrick Brown

Sonnenblick-Eichner Company

Broker

$523.1M

vol

11 deals

Broker
Mast Capital
Mast CapitalLender

Summerland Key Other Market Snapshot

Boundary boundary · Other · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.52%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93