Navika Capital Group Acquires 90-Key Hampton Inn Hotel In Webster, NY With $4.5M Loan
878 Hard Road, Webster, New York 14580, United States
$4,500,000
$1,339/SF
Building Size
3,360 SF
Asset Type
Hotel
Closing
Mar 10, 2022
About this deal
AI
The 90-key Hampton Inn Hotel located at 878 Hard Road in Webster, NY has been acquired by an undisclosed buyer. The acquisition was financed with a $4,500,000 acquisition loan. The loan was provided by a balance sheet lender and has a term of 5 years, with a fixed interest rate and a 66% loan-to-value ratio. The loan features a flexible prepayment structure and the borrower will make interest-only payments for the first 2 years.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $4,500,000
- Address: 878 Hard Road, Webster, NY
- Market: Webster, NY
- Keys: 90
Brandon Harris and Suraj Desai from lackBearCapitalPartners represented the buyer in the transaction. The seller, Navika Capital Group, was represented by their own broker. The deal was facilitated by Brandon Harris and Suraj Desai, who are both brokers at lackBearCapitalPartners.
On the Map
$4,500,000
$1,339/SF
Hotel
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Players
Webster 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93