Monolith Capital Provides $9M Mezzanine & Recapitalization Loan For Las Vegas Hotel
Las Vegas, Nevada, United States
$9,000,000
Building Size
—
Asset Type
Hotel
Closing
Mar 16, 2022
AI
An investment firm, Monolith Capital, provided $9,000,000 in mezzanine financing and recapitalization for three Motel 6 properties in Las Vegas, NV. The properties, totaling 606-keys, were part of the transaction. The loan also allowed the borrower to cash out through the recapitalization of existing assets with a fixed-rate loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $9,000,000
- Address: Multiple Addresses
- Market: Las Vegas, NV
- Keys: 606
The loan was provided by Bobby Pokora and John Hohos from Monolith Capital. Suraj Desai represented the borrower in the deal as the broker.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93