Updated Mar 11, 2025
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
About this deal
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.
On the Map
$16,100,000
Hotel
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Salem Hotel Market Snapshot
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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