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
$15,300,000
Building Size
—
Asset Type
Hotel
Closing
Sep 1, 2022
AI
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.
Players
Conroe Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93