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333 Rainbow Boulevard

Updated Dec 4, 2024

Katie Vivian Of Largo Capital Secures $4M Refinance Loan For Niagara Falls Hotel
FINANCEDHotel

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

Katie Vivian

Largo Capital

Broker

$14M

vol

2 deals

Broker

Niagara Falls Hotel Market Snapshot

Boundary boundary · Hotel · Loan transactions

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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

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