Updated Oct 28, 2024
MassHousing Provides $49M Construction Financing For Springfield Hotel
31 Elm Street, Springfield, Massachusetts 01103, United States
$49,000,000
Building Size
—
Asset Type
Hotel
Closing
Jul 10, 2022
About this deal
AI
The property asset involved in this transaction is a hotel located at 31 Elm St in Springfield, MA. The loan for this property was provided by masshousing''>MassHousing for a total amount of $49,000,000. The loan type is construction financing. The landlord for this property is WinnDevelopment & Opal Real Estate.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $49,000,000
- Loan Type: Construction financing
- Address: 31 Elm St, Springfield, MA
- Lender: MassHousing
- Landlord: WinnDevelopment & Opal Real Estate
The deal's key individuals and companies involved in this transaction include the lender, MassHousing, and the landlord, WinnDevelopment & Opal Real Estate.
Players
Springfield Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93