DG Development Refinances Las Vegas Hotel For $44.8M With Hall Structured Finance
755 Sierra Vista Drive, Las Vegas, Nevada 89169, United States
$44,750,000
Building Size
—
Asset Type
Hotel
Closing
Jan 23, 2022
About this deal
AI
The property involved in this closed transaction is a hotel located at 755 Sierra Vista Dr. in Las Vegas. The hotel sits on a 2-acre lot and has a total of 250 keys.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $44,750,000
- Address: 755 Sierra Vista Dr., Las Vegas
- Market: Las Vegas
The lender in this refinance loan transaction is Hall Structured Finance. The landlord of the property is DG Development Corporation, represented by Daniel Grimm. The brokers involved in the deal are Jay Miller, Spencer Miller, and AJ Felberbaum from BayBridge Real Estate Capital.
Players
Las Vegas 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93