Black Bear Capital Partners Arranges $26M Refinance Loan For Las Vegas Hotel Portfolio
8085 Dean Martin Drive & 4125 Boulder Highway
$26,000,000
$2,600,000/SF
Building Size
10 SF
Asset Type
Hotel
Closing
Mar 10, 2023
About this deal
AI
The two property Motel 6 portfolio in Las Vegas, Nevada, located at 8085 Dean Martin Drive and 4125 Boulder Highway, has been refinanced through a $26,000,000 loan. This hotel asset spans 300-keys.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $26,000,000
- Market: Las Vegas, Nevada
The refinance of the Motel 6 portfolio was facilitated by Suraj Desai from Black Bear Capital Partners. The loan has a 10-year term with an interest rate of 6.30%. Notably, there is no prepayment penalty for the duration of the loan term.
Players
Market 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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93