Canyon Partners Real Estate Provides $51.5M Construction Loan For Charlotte Hotel
FINANCED
$51,500,000
North Carolina
See Similar DealsHotel
Financed 10/14/2022
FINANCED
Canyon Partners Real Estate Provides $51.5M Construction Loan For Charlotte Hotel
125 South Brevard Street, Charlotte, North Carolina 28202, United States
See Similar DealsHotel
Financed 10/14/2022
Summary
NORTH CAROLINA
Asset Type:Hotel
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$51,500,000.00
Monthly NOI$343,333.33
Monthly Debt Service$325,515.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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