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
Cedar Park Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
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