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494 Tan Tar A Drive

Goldman Sachs & Starwood Provide $60.5M Refinance Loan For Driftwood Capital's Osage Beach Hotel
FINANCEDHotel

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

Michael Weinberg

Berkadia

Broker

$933.1M

vol

21 deals

Broker
Goldman Sachs
Goldman SachsLender

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