Avatar Financial Group Provides $5.3M Bridge Loan For Odessa Hotel
5221 John Ben Shepperd Parkway Boulevard, Odessa, Texas 79762, United States
$5,300,000
$240/SF
Building Size
22,000 SF
Asset Type
Hotel
Closing
Jul 18, 2022
AI
A hotel located at 5221 John Ben Shepperd Pkwy in Odessa has been involved in a recent real estate transaction. The hotel, spanning across 22,000 square feet and consisting of 100 keys, was part of a closed deal on 07/19/2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $5,300,000
- Loan Type: Bridge Loan
- Loan Terms: 12-month term
- Lender: Avatar Financial Group - TR Hazelrigg
TR Hazelrigg, representing Avatar Financial Group, served as the lender in this transaction with a bridge loan of $5,300,000. The loan has a term of 12 months.
Odessa 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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93