Black Bear Capital Partners Represents Refinancing Of 123-Key Motel 6 In Reno, NV For $5M
1400 Stardust Street, Reno, NV 89503, USA
$5,000,000
$154/SF
Building Size
32,400 SF
Asset Type
Hotel
Closing
Sep 30, 2021
About this deal
AI
A 123-key Motel 6 located at 1400 Stardust Street in Reno, NV has recently undergone a loan refinancing. The loan amount for this transaction was $5,000,000, and it was acquired on a 10-year fixed rate term.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $5,000,000
- Address: 1400 Stardust Street, Reno, NV
- Market: Reno, NV
- Loan Type: Refinance
- BROKER: Suraj Desai - Black Bear Capital Partners
The refinancing deal for this 123-key Motel 6 was facilitated by broker Suraj Desai from Black Bear Capital Partners. This transaction allows for improved financial terms for the property, providing stability and opportunity for future growth.
Players
Reno 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93