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Sonnenblick-Eichner Co. Arranges $19.5M Senior Loan For Texican Court Hotel

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FINANCED
$19,500,000

Texas

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Hotel
Financed 04/02/2024
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FINANCED

Sonnenblick-Eichner Co. Arranges $19.5M Senior Loan For Texican Court Hotel

501 West Las Colinas Boulevard

See Similar Deals
Hotel
Financed 04/02/2024
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Hotel
Transaction Type:Loan

The Texican Court hotel, located at 501 West Las Colinas Boulevard in Irving, is an asset valued at $47.3 million. The hotel features retro styling and various amenities, such as meeting spaces, a fitness center, and a swimming pool. It generates $113.57 in revenue per available room.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $19,500,000
  • Lender: Goldman Sachs
  • Landlord: Doyle A. Graham, Jr - Valencia Hotel Group
  • Broker: Patrick Brown - Sonnenblick-Eichner Co.
  • Loan Type: Senior Loan
  • Loan Terms: Interest-only payments with a coupon of 7.74 percent for five years

Sonnenblick-Eichner Co., represented by Patrick Brown, facilitated a $19.5 million senior loan from Goldman Sachs for the acquisition of the Texican Court hotel in Irving.

Players

Patrick Brown
Sonnenblick-Eichner Company
Patrick Brown
11 deals$523.1M volume
BROKER
Goldman Sachs
Goldman Sachs
LENDER

Details

FINANCED
IMAGE: Doyle A. Graham, Jr & Patrick Brown DATE: 04/02/2024 ADDRESS: 501 West Las Colinas Boulevard - Texican Court MARKET: Irving ASSET TYPE: Hotel LENDER: Goldman Sachs (@GoldmanSachs) LANDLORD: Doyle A. Graham, Jr - Valencia Hotel Group BROKER: Patrick Brown - Sonnenblick-Eichner Co. LOAN AMOUNT: $19,500,000 LOAN TYPE: Senior Loan LOAN TERMS: only interest payments for its five-year term and pays a coupon of 7.74 percent NOTE: Sonnenblick-Eichner Co. arranges a $19.5 million senior loan from Goldman Sachs for Irving's Texican Court hotel, offering a five-year term with interest-only payments. The hotel, valued at $47.3 million, boasts retro styling and amenities such as meeting spaces, a fitness center, and a swimming pool, generating $113.57 revenue per available room.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,500,000.00

Monthly NOI$130,000.00
Monthly Debt Service$123,253.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00