Katie Vivian Of Largo Capital Secures $4M Refinance Loan For Niagara Falls Hotel
333 Rainbow Boulevard
$4,000,000
Building Size
—
Asset Type
Hotel
Closing
Mar 19, 2024
About this deal
AI
The loan transaction involved the refinancing of a 110-room Wingate by Wyndham hotel located at 333 Rainbow Boulevard in Niagara Falls. Largo Capital facilitated a $4 million loan provided by an undisclosed life insurance company. The loan features a 10-year term, fixed interest rate, and a 25-year amortization schedule.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,000,000
- Address: 333 Rainbow Boulevard
- Market: Niagara Falls
- Broker: Katie Vivian - Largo Capital
- Loan Type: Refinance
- Loan Terms: 10-year term, fixed interest rate, 25-year amortization schedule
The $4 million loan for the refinancing was secured by Largo Capital, arranged by Katie Vivian of Largo Capital. The loan was provided by an undisclosed life insurance company with specific terms including a 10-year term, fixed interest rate, and a 25-year amortization schedule.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93