RRA Capital Provides $7.7M Loan For Hotel Financing In North Myrtle Beach
FINANCED
$7,700,000
South Carolina
See Similar DealsHotel
Financed 04/27/2022
FINANCED
RRA Capital Provides $7.7M Loan For Hotel Financing In North Myrtle Beach
620 75th Avenue North
See Similar DealsHotel
Financed 04/27/2022
Summary
SOUTH CAROLINA
Asset Type:Hotel
Transaction Type:Loan
The transaction involved a hotel asset located at 620 75th Avenue North in North Myrtle Beach. The deal was supported by a loan amount of $7,700,000.00, facilitating the property transaction within the specified market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,700,000.00
- Loan Date: 04/27/2022
- Broker: David Turley - Cronheim Mortgage
- Lender: RRA Capital
The representation for this transaction was handled by David Turley, who represents Cronheim Mortgage in the brokerage of the deal, working alongside RRA Capital, the lending entity involved in financing the hotel asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,700,000.00
Monthly NOI$51,333.33
Monthly Debt Service$48,669.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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