Suraj Desai's Black Bear Capital Partners Secures $27.8M Loan To Refinance Motel 6 In Las Vegas
195 E Tropicana Avenue
$27,750,000
$2,775,000/SF
Building Size
10 SF
Asset Type
Hotel
Closing
Apr 14, 2023
About this deal
AI
The Motel 6 located at 195 E Tropicana Avenue in Las Vegas, NV has undergone a refinancing transaction. The property, a hotel with 306 keys, was refinanced for a loan amount of $27,750,000. The loan terms include a nonrecourse 5-year fixed-rate loan with a 30-year amortization.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $27,750,000
- Address: 195 E Tropicana Avenue
- Market: Las Vegas, NV
The refinancing of the Motel 6 was facilitated by Suraj Desai from Black Bear Capital Partners. Serving as the broker in this deal, Suraj Desai represented the interests of the involved parties.
Players
Paradise 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93