K&K Hotel Group Secures $15.3M Construction Loan From HALL Structured Finance For Shenandoah Hotel
FINANCED
$15,300,000
Texas
See Similar DealsHotel
Financed 09/02/2022
FINANCED
K&K Hotel Group Secures $15.3M Construction Loan From HALL Structured Finance For Shenandoah Hotel
18200 Interstate 45 South, Shenandoah, Texas 77384, United States
See Similar DealsHotel
Financed 09/02/2022
Summary
TEXAS
Asset Type:Hotel
Transaction Type:Loan
The K&K Hotel Group has secured a $15,300,000 construction loan from HALL Structured Finance for the development of a hotel property located at 18200 I-45 in Shenandoah. The hotel will consist of 106 rooms and is set to be a significant addition to the market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,300,000
- Address: 18200 I-45, Shenandoah
- Market: Shenandoah
- Keys: 106
The loan was facilitated by Matt Mitchell of HALL Structured Finance, acting as the broker for the K&K Hotel Group. Through this partnership, the group will be able to complete the construction of the hotel and bring their vision to life.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,300,000.00
Monthly NOI$102,000.00
Monthly Debt Service$96,706.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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