Brian Sedrish Of Southern Realty Trust Issues $57 Million Refinance Loan For The Loren At Lady Bird Lake
1211 West Riverside Drive
$57,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 13, 2024
About this deal
AI
The Loren at Lady Bird Lake is a hotel asset located at 1211 West Riverside Drive in Austin, featuring 108 keys. The property is part of a mixed-use development that spans 1.5 acres, incorporating condos, restaurants, and high-end amenities, and is positioned near downtown Austin attractions.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $57,000,000
- Lender: Brian Sedrish - Southern Realty Trust
- Landlord: The Loren Group
- Loan Type: Refinance
- Loan Structure: $25 million held by Southern Realty Trust, $32 million syndicated to TCG Real Estate
This transaction involves significant contributions from key players in the real estate finance sector. Brian Sedrish of Southern Realty Trust provided the senior loan for refinancing the hotel asset, while TCG Real Estate participated through syndication, enhancing the financial framework for The Loren Group.
On the Map
$57,000,000
Hotel
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Players
Austin Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93