Robert Bhat Of Marcus & Millichap Capital Corporation Arranges $8.8M Acquisition Loan For McAllen, TX Hotel
101 North Main Street, McAllen, Texas 78501, United States
$8,775,000
Building Size
—
Asset Type
Hotel
Closing
Oct 4, 2022
About this deal
AI
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.
McAllen Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Browse Texas hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93