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1010 E Whitestone BLVD, Ced...

Alliance Bank Central Texas Lends Loan For Hotel At 1010 E Whitestone Blvd, Cedar Park
FINANCEDHotel

Alliance Bank Central Texas Lends Loan For Hotel At 1010 E Whitestone Blvd, Cedar Park

1010 E Whitestone BLVD, Cedar Park...

Building Size

Asset Type

Hotel

Closing

Nov 20, 2023

AI

La Quinta Inn & Suites by Wyndham is a 75-key hotel located at 1010 E. Whitestone Boulevard in Cedar Park, Texas. Completed in 2009, the hotel sits on 4.02 acres and offers a mix of traditional guest rooms and suites. The property features amenities such as a fitness center, indoor pool, mobile check-in, complimentary breakfast, and 625 square feet of meeting space.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Address: 1010 E Whitestone BLVD, Cedar Park
  • Market: Cedar Park
  • Borrower's Rep: Matthew Ctvrtlik (JLL)
  • Lender: Alliance Bank Central Texas
  • Acquisition Financing: JLL Capital Markets arranged the five-year, fixed-rate loan for La Quinta Inn & Suites by Wyndham on behalf of the borrower, Door Capital Partners.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director CW Sheehan and Analysts Matt Ctvrtlik and Hunt Wood.

Players

Matthew Ctvrtlik

JLL

Broker

2 deals

Broker
Alliance Bank Central Texas
Alliance Bank Central TexasLender

Cedar Park 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93