Avatar Financial Group Provides $5.3M Bridge Loan For Odessa Hotel
FINANCED
$5,300,000
Texas
See Similar DealsHotel22,000 SF
Financed 07/19/2022
FINANCED
Avatar Financial Group Provides $5.3M Bridge Loan For Odessa Hotel
5221 John Ben Shepperd Parkway Boulevard, Odessa, Texas 79762, United States
See Similar DealsHotel22,000 SF
Financed 07/19/2022
Summary
TEXAS
Asset Type:Hotel
Price Per Square Foot:$240
Total Square Footage:22,000 SF
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,300,000.00
Monthly NOI$35,333.33
Monthly Debt Service$33,499.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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