Hall Structured Finance Provides $43.5M Construction Loan For Old Hickory Hotel
2221 Elliston St.Old Hickory, TN 37138, USA
$43,500,000
Building Size
—
Asset Type
Hotel
Closing
Apr 17, 2023
About this deal
AI
An hotel located at 2221 Elliston St in Old Hickory, TN has recently been involved in a transaction. The loan for this property was provided by Hall Structured Finance in the amount of $43,500,000. The loan is a construction loan with a term of 3 years. It has an interest-only payment structure and a floating interest rate. The loan is non-recourse, meaning the borrower is not personally liable for repayment.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $43,500,000
- Loan Type: Construction
- Loan Terms: 3 years, Interest Only, Floating Rate, Non Recourse
Leading the transaction was Sila Developments, the landlord of the property. The broker involved was Francisco Nacorda from Mag Mile Capital. Nacorda represented Sila Developments throughout the deal.
On the Map
$43,500,000
Hotel
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Players
Old Hickory Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93