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Cronheim Hotel Capital Secures $11M Refinance Loan For Courtyard Houston Intercontinental Airport

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FINANCED
$11,000,000

Texas

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Hotel
Financed 03/18/2024
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Property Image
FINANCED

Cronheim Hotel Capital Secures $11M Refinance Loan For Courtyard Houston Intercontinental Airport

15838 John F Kennedy Boulevard Frontage Road

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Hotel
Financed 03/18/2024
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Hotel
Transaction Type:Loan

The Courtyard Houston Intercontinental Airport, located at 15838 John F Kennedy Boulevard Frontage Road, is a 127-key hotel in Houston. Concord Hospitality, under the ownership of Mark Laport, operates the property.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $11,000,000
  • Loan Type: Refinance
  • Landlord: Mark Laport - Concord Hospitality
  • Broker: Beau Williams - Cronheim Hotel Capital

Beau Williams of Cronheim Hotel Capital served as the broker in securing an $11 million loan to refinance the property. Williams, the senior managing director, emphasized the importance of maintaining relationships amidst banking system volatility and expressed gratitude for key connections in facilitating the deal.

Players

Beau Williams
ThirtyFourth Capital
Beau Williams
6 deals$386.4M volume(999) 999-9999
BROKER
Beau Williams
ThirtyFourth Capital
Beau Williams
6 deals$386.4M volume(999) 999-9999
BROKER
Cronheim Hotel Capital
Cronheim Hotel Capital
LENDER

Details

FINANCED
IMAGE: Mark Laport & Beau Williams DATE: 03/18/2024 ADDRESS: 15838 John F Kennedy Boulevard Frontage Road - Courtyard Houston Intercontinental Airport MARKET: Houston ASSET TYPE: Hotel ~ KEYS: 127 LANDLORD: Mark Laport - Concord Hospitality (@ConcordHotels) BROKER: Beau Williams (@BeauTheOriginal) - Cronheim Hotel Capital LOAN AMOUNT: $11,000,000 LOAN TYPE: Refinance NOTE: Cronheim Hotel Capital secured an $11 million loan to refinance the Courtyard Houston Intercontinental Airport for Concord Hospitality affiliates. Beau Williams, senior managing director, arranged the loan, highlighting the importance of smaller balance sheet relationships amidst U.S. banking system volatility and expressing gratitude for key connections.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,000,000.00

Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00