HALL Structured Finance Provides $15.3M Construction Loan For Hotel In Spring
FINANCED
$15,300,000
Texas
See Similar DealsHotel1,000 SF
Financed 08/30/2022
FINANCED
HALL Structured Finance Provides $15.3M Construction Loan For Hotel In Spring
23523 Northgate Crossing Boulevard, Spring, Texas 77373, United States
See Similar DealsHotel1,000 SF
Financed 08/30/2022
Summary
TEXAS
Asset Type:Hotel
Price Per Square Foot:$15,300
Total Square Footage:1,000 SF
Transaction Type:Loan
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
LENDER
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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