Black Bear Capital Partners (“BBCP”) is Pleased to Announce The Funding of a $19,250,000 Loan For The Refinance of a 127-key Hotel Located in Middletown, RI 02842
FINANCED
$19,250,000
Rhode Island
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Financed
FINANCED
Black Bear Capital Partners (“BBCP”) is Pleased to Announce The Funding of a $19,250,000 Loan For The Refinance of a 127-key Hotel Located in Middletown, RI 02842
425 East Main Road
See Similar DealsHotel
Financed
Summary
RHODE ISLAND
Asset Type:Hotel
Transaction Type:Loan
The asset involved in this transaction is a 127-key hotel located at 425 East Main Road in Middletown, RI. The transaction pertains to a refinance loan amounting to $19,250,000 and features a 5-year term on a 30-year amortization schedule with 1-year interest only, structured at a 70% loan-to-value ratio.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $19,250,000
- Loan Type: Refinance
- Address: 425 East Main Road, Middletown, RI
- Capital Market Advisors: Eric Trombly & Suraj Desai - Black Bear Capital Partners
- Landlord: Graham & Gregory Jones
The financing was facilitated by Black Bear Capital Partners, represented by Eric Trombly and Suraj Desai, who played a key role in securing the loan for the hotel refinance. Their involvement underscores the support provided by their firm in capital market advisory services for this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,250,000.00
Monthly NOI$128,333.33
Monthly Debt Service$121,673.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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