Mag Mile Capital Arranges $7.5M Loan For San Marcos Hotel On Bintu Drive
FINANCED
$7,475,000
Texas
See Similar DealsHotel69,338 SF
Financed 06/28/2022
FINANCED
Mag Mile Capital Arranges $7.5M Loan For San Marcos Hotel On Bintu Drive
105 Bintu Dr, San Marcos, Texas 78666, United States
See Similar DealsHotel69,338 SF
Financed 06/28/2022
Summary
TEXAS
Asset Type:Hotel
Price Per Square Foot:$107
Total Square Footage:69,338 SF
Transaction Type:Loan
The hotel property located at 105 Bintu Drive in San Marcos has recently undergone a closed transaction. This hotel asset spans approximately 69,338 square feet and consists of 106 keys. The property is managed by Haven Management Services. The deal was facilitated by broker Mike Taylor from Mag Mile Capital.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $7,475,000
- Date: 06/28/2022
- Address: 105 Bintu Drive
- Market: San Marcos
- Keys: 106
- Square Footage: 69,338
The loan terms for this transaction include a 5-year term. This information, along with the loan amount of $7,475,000, provides key insights into the financing of the hotel property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,475,000.00
Monthly NOI$49,833.33
Monthly Debt Service$47,247.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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