Robert Bhat Of Marcus & Millichap Capital Corporation Arranges $8.8M Acquisition Loan For McAllen, TX Hotel

Located at 101 N Main Street in McAllen, TX, this hotel property was recently involved in a closed transaction. The property consists of 165 keys, making it a substantial asset in the market. The transaction was managed by Robert Bhat of Marcus & Millichap Capital Corporation, who represented the buyer in securing the necessary financing for the acquisition.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $8,775,000
• Loan Type: Acquisition Loan
• Loan Terms: 65% LTV non-recourse acquisition financing with a 10-year term and 30-year amortization

The acquisition loan obtained for this transaction amounted to $8,775,000, with a loan-to-value (LTV) ratio of 65%. This type of financing allows the buyer to acquire the property without assuming personal liability. The loan has a 10-year term and a 30-year amortization schedule, providing the buyer with favorable repayment terms.