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Stabilis Capital Management Provides $43.5M Loan For Acquisition Of Las Vegas Hotels

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FINANCED
$43,500,000

Nevada

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Hotel
Financed 03/17/2022
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FINANCED

Stabilis Capital Management Provides $43.5M Loan For Acquisition Of Las Vegas Hotels

195 East Tropicana Avenue, Las Vegas, Nevada 89109, United States

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Hotel
Financed 03/17/2022
the dealplayerscompscontact
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Summary

NEVADA
Asset Type:Hotel
Transaction Type:Loan

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.

Players

Suraj Desai
Black Bear Capital Partners
Suraj Desai
43 deals$1B volume
BROKER
Stabilis Capital Management
Stabilis Capital Management
LENDER

Details

FINANCED
IMAGE: Suraj Desai DATE: 03/17/2022 ADDRESS: 195 E Tropicana Avenue, 5085 Dean Martin Drive, & 4125 Boulder Highway MARKET: Las Vegas, NV ASSET TYPE: Hotel ~ KEYS: 606 LENDER: Stabilis Capital Management BROKER: Suraj Desai - @BlackBearCapitalPartners LOAN AMOUNT: $43,500,000 LOAN TYPE: Acquisition LOAN TERMS: The acquisition of the three (3) Motel 6 Properties, totaling 606-keys, was financed with a floating-rate nonrecourse loan and features full-term interest-only payments.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$43,500,000.00

Monthly NOI$290,000.00
Monthly Debt Service$274,949.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00