Jasdeep Khera Of Yieldwink Provides $3.21M Preferred Equity Loan For Voco Times Square Hotel
FINANCED
$3,215,860
New York
See Similar DealsHotel
Financed 10/31/2024
FINANCED
Jasdeep Khera Of Yieldwink Provides $3.21M Preferred Equity Loan For Voco Times Square Hotel
711 7th Avenue
See Similar DealsHotel
Financed 10/31/2024
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 711 7th Avenue in the Manhattan market. The property has 422 keys and received a loan of $3,215,860 structured as preferred equity. The loan is set for a term of 3 years.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $3,215,860
- Loan Type: Preferred Equity
- Loan Terms: 3 Years
- Lender: Jasdeep Khera - Yieldwink
Jasdeep Khera, representing Yieldwink, structured, raised, and invested more than $3 million in preferred equity to capitalize the project’s development, leading to the opening and operation of the Voco Times Square.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,215,860.00
Monthly NOI$21,439.07
Monthly Debt Service$20,326.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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