FINANCEDHotel
Kailas Cos Secures $120 Million Bridge Loan For Hotel Redevelopment In New Orleans
1010 Common Street & 221 O'keefe Avenue
$120,000,000
$800/SF
Building Size
150,000 SF
Asset Type
Hotel
Closing
Aug 24, 2026
About this deal
AI
The property asset involved in the transaction is a hotel located at 1010 Common Street & 221 O'Keefe Avenue in New Orleans, LA, encompassing a total square footage of 150,000. The transaction includes a bridge loan amounting to $120 million as part of the financing structure.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $120,000,000
- Lender: TMGOC Ventures & Access Point Financial
- Landlord: Kailas Cos
- Broker: Russell Schildkraut - Ackman-Ziff
- Loan Type: Bridge
Kailas Cos has recapitalized a redevelopment project of a former office tower in New Orleans with the recently secured bridge loan. The financing also includes a preferred equity investment from Access Point Financial and TMGOC Ventures, indicating their involvement and commitment to the project's execution.
Players
New Orleans 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93