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Vici Properties Provides $105M Construction Loan For Margaritaville Resort In Kansas City
FINANCED
$105,000,000
Kansas
See Similar DealsDevelopment Site
Financed 01/23/2024
FINANCED
Vici Properties Provides $105M Construction Loan For Margaritaville Resort In Kansas City
1301 North 98th Street
See Similar DealsDevelopment Site
Financed 01/23/2024
Summary
KANSAS
Asset Type:Development Site
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$105,000,000.00
Monthly NOI$700,000.00
Monthly Debt Service$663,671.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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