Eli Weisblum & Paul McCormick Secure $8.98M Refinance Loan For Shelby, NC Hotel
FINANCED
$8,975,000
North Carolina
See Similar DealsHotel
Financed 12/02/2021
FINANCED
Eli Weisblum & Paul McCormick Secure $8.98M Refinance Loan For Shelby, NC Hotel
1715 East Dixon Boulevard, Shelby, North Carolina 28152, United States
See Similar DealsHotel
Financed 12/02/2021
Summary
NORTH CAROLINA
Asset Type:Hotel
Transaction Type:Loan
The hotel property located at 1715 E Dixon Blvd in Shelby, NC has undergone a loan refinance transaction. The property comprises 86 keys and is represented by Eli Weisblum & Paul McCormick of Ariel Property Advisors.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,975,000
- Loan Type: Refinance
- Loan Terms: 65-percent LTV, five-year term with a five-year option, fixed rate of 4.5 percent interest
The refinance deal was successfully facilitated with a loan amount of $8,975,000. The loan terms include a 65-percent loan-to-value (LTV) ratio, a five-year initial term with a five-year option, and a fixed interest rate of 4.5 percent. Eli Weisblum & Paul McCormick of Ariel Property Advisors played a crucial role in representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,975,000.00
Monthly NOI$59,833.33
Monthly Debt Service$56,728.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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