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Marcus & Millichap Capital Arranges $8.86M Acquisition Loan For Artesia Hotel
FINANCED
$8,855,000
New Mexico
See Similar DealsHotel
Financed 03/27/2024
FINANCED
Marcus & Millichap Capital Arranges $8.86M Acquisition Loan For Artesia Hotel
2501 South Permian Pavilion Loop
See Similar DealsHotel
Financed 03/27/2024
Summary
NEW MEXICO
Asset Type:Hotel
Transaction Type:Loan
The Hampton Inn & Suites Artesia hotel in Artesia, NM, with 81 keys, was acquired with the help of a $8,855,000 loan. The loan, facilitated by Marcus & Millichap Capital Corporation, is an acquisition type with a 10-year term. This loan includes 3 years fixed interest, 25 years amortization, and a 70% loan-to-value ratio.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $8,855,000
- Address: 2501 South Permian Pavilion Loop
- Market: Artesia, NM
- Broker: Tyler Waller - Marcus & Millichap
The acquisition of the Hampton Inn & Suites Artesia hotel was made possible through a loan amounting to $8,855,000. Tyler Waller from Marcus & Millichap played a crucial role as the broker in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,855,000.00
Monthly NOI$59,033.33
Monthly Debt Service$55,969.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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