Monolith Capital Provides $9M Mezzanine & Recapitalization Loan For Las Vegas Hotel
FINANCED
Nevada
See Similar DealsHotel
Financed 03/17/2022
FINANCED
Monolith Capital Provides $9M Mezzanine & Recapitalization Loan For Las Vegas Hotel
Las Vegas, Nevada, United States
See Similar DealsHotel
Financed 03/17/2022
Summary
NEVADA
Asset Type:Hotel
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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