LMF Commercial Provides $7.95M Refinance Loan For Sierra Nevada Mountains Hotel
FINANCED
$7,950,000
Nevada
See Similar DealsHotel32,927 SF
Financed 04/19/2024
FINANCED
LMF Commercial Provides $7.95M Refinance Loan For Sierra Nevada Mountains Hotel
Hotel32,927 SF
Financed 04/19/2024
Summary
NEVADA
Asset Type:Hotel
Price Per Square Foot:$241
Total Square Footage:32,927 SF
Transaction Type:Loan
The hotel property in Sierra Nevada Mountains, spanning 32,927 square feet, underwent a refinancing transaction. The loan amount secured for this deal was $7,950,000 from LMF Commercial, with Nihad Choudhury serving as the lender's representative.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,950,000
- Market: Sierra Nevada Mountains
- Asset Type: Hotel
- Loan Type: Refinance
- Loan Terms: CMBS; 10-year term, full cash out
- BROKERS: Rushi Shah & Prabhat Jayara - Mag Mile Capital
Rushi Shah and Prabhat Jayara from Mag Mile Capital facilitated this transaction as brokers handling the refinancing deal, which saw the hotel property being refinanced in the Sierra Nevada Mountains. The loan, structured as a CMBS with a 10-year term allowing for full cash out, marked a significant financial restructuring benefiting all parties involved.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,950,000.00
Monthly NOI$53,000.00
Monthly Debt Service$50,249.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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