Updated Dec 4, 2024
Vici Properties Provides $105M Construction Loan For Margaritaville Resort In Kansas City
1301 North 98th Street
$105,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 23, 2024
About this deal
AI
Affiliates of Homefield Kansas City have secured up to $105 million in financing through a construction loan agreement offered by Vici Properties Inc. The loan is specifically for the development of a Margaritaville Resort in Kansas City, Kansas located at 1301 North 98th Street.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $105,000,000
- Lender: Vici Properties
- Landlord: Affiliates of Homefield Kansas City
Vici Properties Inc. will be providing the financing for the Margaritaville Resort development in Kansas City. The resort is being developed by affiliates of Homefield Kansas City, and the loan amount agreed upon is $105 million. The construction loan agreement will support the development of the resort at the address mentioned above.
On the Map
$105,000,000
Development Site
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Players
Kansas City Development Site Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93