Credit Suisse Provides $460M Loan For Dreamscape & Imperial Cos. To Acquire Rio Vegas Hotel. Eric Birnbaum Represents Seller, Caesars Entertainment Corp
Rio, Vegas, NV, USA
$516,300,000
Building Size
—
Asset Type
Hotel
Closing
Dec 6, 2019
About this deal
AI
Dreamscape & Imperial Cos. have purchased the Rio Vegas Hotel in Las Vegas, Nevada. The hotel was sold by Caesars Entertainment Corporation. The sale price for this transaction was $516,300,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $516,300,000
The loan for this purchase was provided by Credit Suisse in the amount of $460,000,000. The loan brokers who facilitated this transaction were Dustin Stolly, Jordan Roeschlaub, Nick Scribani, and Chris Kramer from Newmark Knight Frank.
The hotel sale at Rio, Vegas, NV, USA in Las Vegas, Nevada sold for $516.3M in 2019. Rio, Vegas, NV, USA is classified as Hotel on Traded. Dustin Stolly, Christopher (Chris) Kramer, Jordan (Jordy) Roeschlaub, Nick Scribani appear on the sale alongside Newmark. This page is the Las Vegas, Nevada file for the Rio, Vegas, NV, USA hotel sold: pricing, party profiles, and other closed hotel comps from the same Las Vegas sit in the Market section below. Filter that Las Vegas hotel set by closing date to see what else sold near Rio, Vegas, NV, USA around 2019. Published consideration for Rio, Vegas, NV, USA is $516.3M, dated 2019. Cite this Credit Suisse Provides $460M Loan For Dreamscape & Imperial Cos. To Acquire Rio Vegas Hotel. Eric Birnbaum Represents Seller, Caesars Entertainment Corp sale when underwriting similar hotel product around Las Vegas, Nevada.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93