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Black Bear Capital Partners Secures $12.9M Refinance Loan For Avondale Hotel Portfolio

3079 Highway 90 & 3051 Highway 90
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This Hotel property located in LA received a loan of $12,900,000 10 months ago. The broker of the deal was Suraj Desai

The two-property hotel portfolio located at 3079 Highway 90 and 3051 Highway 90 in Avondale, LA recently underwent a refinancing transaction. The properties, consisting of a total of 181 keys, were refinanced through a 12-month floating-rate loan. The loan amount for this transaction was $12,900,000, and the terms of the loan included interest-only payments for the entire duration of the loan term.

Summary of transation details

  • Property Type: Hotel
  • Transaction Amount: $12,900,000
  • Address: 3079 Highway 90 & 3051 Highway 90, Avondale, LA
  • Market: Avondale, LA

The refinancing deal for the hotel portfolio was facilitated by Suraj Desai of Black Bear Capital Partners. As the broker representing the transaction, Suraj Desai played a crucial role in securing the favorable terms and conditions for the loan. The involvement of Black Bear Capital Partners highlights their expertise in hotel property financing and their ability to guide clients through successful refinancing deals.

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Deals
  • Location
    3079 US-90 Avondale, LA 70094, USA3079 US-90 Avondale, LA 70094, USA
  • Loan Value
    $12,900,000$12,900,000
  • Asset Type
    HotelHotel
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Suraj Desai

Suraj Desai

Deals33
Financed$711.8M

Agency

Black Bear Capital Partners

Black Bear Capital Partners

Agency
Deals284
Volume$6.2B

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Deal Summary

LOAN IMAGE: Suraj Desai DATE: 05/05/2023 ADDRESS: 3079 Highway 90 & 3051 Highway 90 MARKET: Avondale, LA ASSET TYPE: Hotel BROKER: Suraj Desai - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $12,900,000 LOAN TYPE: Refinance LOAN TERMS: The two-property portfolio, spanning 181-keys, was refinanced via a 12-month floating-rate loan and interest-only payments for the entirety of the term.

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3079 Highway 90 & 3051 Highway 90

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