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
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