HALL Structured Finance Provides $15.3M Construction Loan For Hotel In Spring
23523 Northgate Crossing Boulevard, Spring, Texas 77373, United States
$15,300,000
$15,300/SF
Building Size
1,000 SF
Asset Type
Hotel
Closing
Aug 29, 2022
About this deal
AI
The property involved in the closed transaction is a hotel located at 23523 Northgate Crossing Blvd in Spring. The hotel has 106 keys and a total square footage of 1,000. The property belongs to K&K Hotel Group.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $15,300,000
- Address: 23523 Northgate Crossing Blvd
- Market: Spring
- Keys: 106
- Square Footage: 1,000
The lender for this transaction is HALL Structured Finance (HSF), represented by Matt Mitchell. The loan amount for the construction project is $15,300,000. The landlord of the hotel is K&K Hotel Group.
Players
Spring Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Browse Texas hotel loans on Traded.
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