Suraj Desai's Black Bear Capital Partners Secures $17M Refinance Loan For Inn Of Chicago Hotel
FINANCED
$17,000,000
Illinois
See Similar DealsHotel
Financed 09/02/2022
FINANCED
Suraj Desai's Black Bear Capital Partners Secures $17M Refinance Loan For Inn Of Chicago Hotel
162 E. Ohio Street chi
See Similar DealsHotel
Financed 09/02/2022
Summary
ILLINOIS
Asset Type:Hotel
Transaction Type:Loan
The Inn of Chicago Hotel, located on Magnificent Mile in Chicago, IL, has secured a $17,000,000 refinance loan. The hotel spans 359-keys and is situated on 162 E. Ohio Street. This 3-year floating rate loan offers full-term interest-only payments.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $17,000,000
- Address: 162 E. Ohio Street, Chicago, IL
- Loan Type: Refinance
- Loan Terms: 3-year floating rate loan with full-term interest-only payments
Suraj Desai from Black Bear Capital Partners represented the property owner in securing the loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,000,000.00
Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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