Goldman Sachs & Starwood Provide $60.5M Refinance Loan For Driftwood Capital's Osage Beach Hotel
494 Tan Tar A Drive
$60,500,000
Building Size
—
Asset Type
Hotel
Closing
Jan 10, 2024
AI
The hotel property located at 494 Tan Tara Drive in Osage Beach, MO has undergone a refinancing transaction. The loan, amounting to $60,500,000, was arranged by Goldman Sachs and Starwood. The owner of the hotel is Driftwood Capital. Berkadia represented the parties involved in the deal, with Michael Weinberg, Alec Fox, Scott Wadler, and Edmund Aramayo serving as brokers.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $60,500,000
- Lender: Goldman Sachs & Starwood
- Owner: Driftwood Capital
- Brokers: Michael Weinberg, Alec Fox, Scott Wadler, and Edmund Aramayo - Berkadia
- Loan Type: Refinance
- Loan Terms: 5-year fixed rate deal, full term interest only
The refinancing deal involved key individuals and companies, such as Goldman Sachs, Starwood, Driftwood Capital, and Berkadia. The loan terms include a 5-year fixed rate with full term interest-only payments. Michael Weinberg, Alec Fox, Scott Wadler, and Edmund Aramayo represented Berkadia in the transaction.
Players
Osage Beach 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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93