FINANCEDHotel
Leader Bank Provides $16.1M Refinance Loan For Salem, MA Hotel On Derby St
225 Derby Street, Salem, Massachusetts 01970, United States
$16,100,000
Building Size
—
Asset Type
Hotel
Closing
May 3, 2022
AI
The Hotel located at 225 Derby St in Salem, MA has been refinanced with a loan amount of $16,100,000. The property consists of 86 keys and is owned by an undisclosed party.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $16,100,000
- Address: 225 Derby St, Salem, MA
- Market: Salem, MA
- Lender: Leader Bank
- Lender's Representative: Sushil Tuli
Sushil Tuli from Leader Bank facilitated the refinance loan for the undisclosed owner of the Hotel located at 225 Derby St in Salem, MA.
Players
Salem 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93