FINANCEDHotel
Marcus & Millichap Secures 5-Year, 6.5% Fixed Refinance Loan For Richmond, TX Hotel
5350 Pointe West Circle
Building Size
—
Asset Type
Hotel
Closing
Oct 4, 2023
About this deal
AI
The property involved in this transaction is a hotel located at 5350 Pointe West Circle in Richmond, TX. The deal involves a refinance loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Loan Type: Refinance
- Loan Terms: 6.5% Interest Rate Fixed for 5-Years, 60% LTV Cash-Out Refinance, 5-Year Loan Term, 2-Years Interest Only Payments followed by a 28-Year Amortization, 0.35% Origination Fee
The broker representing this transaction is Duke Dennis from Marcus & Millichap.
If you have any further questions or inquiries, you can reach out to Duke Dennis at 979-777-9910 or [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93