Tower Capital Arranges $10.3M Acquisition Loan For Texarkana Hotel
5001 North Cowhorn Creek Loop, Texarkana, TX, USA
$10,300,000
Building Size
—
Asset Type
Hotel
Closing
Sep 3, 2021
About this deal
AI
Located in Texarkana, the property involved in this closed transaction is a hotel with 175 keys. The address of the property is 5001 & 5020 N Cowhorn Creek Loop.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $10,300,000
- Market: Texarkana
- Loan Type: Acquisition
- Loan Terms: Three-year terms, fixed interest rates, and 77 percent loan-to-cost ratios
The deal was facilitated by Tower Capital, the broker representing the parties involved. The loan amount for the acquisition was $10,300,000, with the terms including three-year durations, fixed interest rates, and a loan-to-cost ratio of 77 percent.
Players
Texarkana Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93