Denihan Hospitality Group Secures $286.9M Loan For Manhattan Hotel
FINANCED
$286,865,641
New York
See Similar DealsHotel
Financed 03/01/2021
FINANCED
Denihan Hospitality Group Secures $286.9M Loan For Manhattan Hotel
215 East 64th Street, Manhattan, New York, NY, USA
See Similar DealsHotel
Financed 03/01/2021
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The Denihan Hospitality Group has secured a loan amount of $286,865,641 for the acquisition of multiple properties in Manhattan. The properties involved in the transaction include 215 East 64th Street, 303 Lexington Avenue, 155 East 50th Street, and 557 Lexington Avenue. These assets are all hotel properties located in the bustling Manhattan market.
Summary of Transaction Details
- Property Type: Hotel
- Loan Amount: $286,865,641
- Lender: Bsrecp Ii Joint Us Origination LLC
- Landlord: Denihan Hospitality Group
Representing the Denihan Hospitality Group in this deal is Patrick Denihan & Brooke Denihan Barrett from Denihan Hospitality Group, acting as their own representatives. The loan was provided by Bsrecp Ii Joint Us Origination LLC, solidifying the financial aspect of the transaction.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$286,865,641.00
Monthly NOI$1,912,437.61
Monthly Debt Service$1,813,185.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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