Rialto Capital Management Provides $59M Refinance Loan For Boerum Hill Hotel
FINANCED
$59,000,000
+ 2
New York
See Similar DealsHotel
Financed 04/19/2022
FINANCED
Rialto Capital Management Provides $59M Refinance Loan For Boerum Hill Hotel
252 Schermerhorn Street, Brooklyn, New York 11217, United States
See Similar DealsHotel
Financed 04/19/2022
+ 2
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The hotel located at 252 Schermerhorn Street in Boerum Hill has undergone a loan refinance transaction. The property, consisting of 287 keys, was the subject of this transaction.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $59,000,000
- Address: 252 Schermerhorn Street
- Market: Boerum Hill
The loan was provided by Rialto Capital Management. GFI Capital Resources Group, the landlord, facilitated the loan refinance. The brokers involved in the transaction were Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, and Ari Hirt, who represented the parties on behalf of Walker & Dunlop.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$59,000,000.00
Monthly NOI$393,333.33
Monthly Debt Service$372,920.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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