Barclays Provides $15.4M CMBS Cash Out Refinance Loan For Schaumburg Hotel, Mag Mile Capital Represents Loan's Brokerage
1939 North Meacham Road
$15,375,000
$87/SF
Building Size
176,036 SF
Asset Type
Hotel
Closing
Nov 17, 2023
AI
A hotel located at 1939 North Meacham Road in Schaumburg, IL with a total square footage of 176,036 has recently undergone a loan transaction.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,375,000
- Market: Schaumburg, IL
- Lender: Barclays
- Brokers: Prabhat Jayara - Mag Mile Capital
- Loan Type: Refinance
- Loan Terms: CMBS Cash Out Refinance, 5-Years Full term I/O, Non-Recourse, 60% LTV
The loan amount for this transaction was $15,375,000. It was a refinancing loan provided by Barclays. The loan terms include CMBS Cash Out Refinance, 5-Years Full term I/O, Non-Recourse, with a loan-to-value (LTV) ratio of 60%.
Players
Schaumburg 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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93