Stabilis Capital Management Provides $43.5M Loan For Acquisition Of Las Vegas Hotels
195 East Tropicana Avenue, Las Vegas, Nevada 89109, United States
$43,500,000
Building Size
—
Asset Type
Hotel
Closing
Mar 16, 2022
About this deal
AI
The acquisition of three Motel 6 properties in Las Vegas, NV has been financed with a floating-rate nonrecourse loan. The properties are located at 195 E Tropicana Avenue, 5085 Dean Martin Drive, and 4125 Boulder Highway, and collectively offer a total of 606 keys. The loan amount secured for this acquisition is $43,500,000, and the loan type is acquisition. The loan terms feature full-term interest-only payments.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $43,500,000
- Address: 195 E Tropicana Avenue, 5085 Dean Martin Drive, & 4125 Boulder Highway
- Market: Las Vegas, NV
- Keys: 606
- Lender: Stabilis Capital Management
- Broker: Suraj Desai - BlackBearCapitalPartners
The acquisition of the three Motel 6 properties was made possible through the financing provided by Stabilis Capital Management. The broker involved in this deal is Suraj Desai from BlackBearCapitalPartners.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93