Updated Dec 4, 2024
Barings Provides $84M Loan To Refinance Hotel Commonwealth In Boston, MA
500 Commonwealth Avenue
$84,000,000
Building Size
—
Asset Type
Hotel
Closing
Jan 16, 2024
About this deal
AI
Barings, a global real estate investment manager, has provided an $84 million loan to refinance Hotel Commonwealth in Boston, Massachusetts. The property is located at 500 Commonwealth Avenue and consists of a hotel with 245 keys. The loan was granted to support the ongoing operations and development of the hotel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $84,000,000
- Address: 500 Commonwealth Avenue
- Market: Boston, MA
- Lender: Ryan Naumes - Barings
- Landlord: G. Christopher Smith - Ohana Real Estate Investors
Ryan Naumes from Barings acted as the lender in this transaction, providing the necessary funds to refinance the Hotel Commonwealth. G. Christopher Smith, representing Ohana Real Estate Investors, served as the landlord for the property. This loan will contribute to the ongoing success and growth of the hotel in one of Boston's most prominent locations.
On the Map
$84,000,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93