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Bank Of New England Provides $55.82 Million Refinance Loan For Lenox Hotel In Boston
FINANCED
$55,820,000
Massachusetts
See Similar DealsHotel
Financed 02/18/2025
FINANCED
Bank Of New England Provides $55.82 Million Refinance Loan For Lenox Hotel In Boston
710 Boylston Street
See Similar DealsHotel
Financed 02/18/2025
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Loan
The Lenox Hotel, located at 710 Boylston Street in Boston, MA, is a 214-room hotel that has been owned by the Saunders Hotel Group since 1963. The property has seen significant renovations amounting to $50 million since 2007. The recent refinancing involved a mortgage from the Bank of New England.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $55,820,000
- Market: Boston, MA
- Lender: Bank of New England
- Landlord: Jeffrey Saunders - Saunders Hotel Group
- Loan Type: Refinance
- Keys: 214
The refinancing transaction was led by Bank of New England, providing exclusive financial services to facilitate the deal. Jeffrey Saunders represents the landlord in this transaction, further solidifying the longstanding operations of Saunders Hotel Group in the Boston area.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,820,000.00
Monthly NOI$372,133.33
Monthly Debt Service$352,820.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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