Updated Oct 28, 2024
Canyon Partners Real Estate Provides $51.5M Construction Loan For Charlotte Hotel
125 South Brevard Street, Charlotte, North Carolina 28202, United States
$51,500,000
Building Size
—
Asset Type
Hotel
Closing
Oct 13, 2022
About this deal
AI
A construction loan has been secured for a hotel property located at 125 South Brevard St in Charlotte, NC. The loan amount is $51,500,000 and the lender is Canyon Partners Real Estate. The property is owned by Opterra Capital & The Montford Group.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $51,500,000
- Lender: Canyon Partners Real Estate
- Landlord: Opterra Capital & The Montford Group
- Loan Type: Construction
- Address: 125 South Brevard St, Charlotte, NC
The construction loan for the hotel property was secured through Canyon Partners Real Estate. Opterra Capital & The Montford Group are the owners of the property. The loan will be utilized for the construction of the hotel.
On the Map
$51,500,000
Hotel
View full map
Players
Charlotte Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93