PMZ Realty Facilitates $20.75M Acquisition Loan For Austin Hotel At 5660 N IH 35
5660 North Interstate 35
$20,750,000
Building Size
—
Asset Type
Hotel
Closing
Mar 16, 2023
About this deal
AI
A hotel located at 5660 N IH 35 in Austin has been involved in a closed transaction. The property features 186 keys and was acquired through an Acquisition Loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $20,750,000
- Loan Type: Acquisition Loan
- Loan Terms: non-recourse
The deal was facilitated by Michael Sonnabend, a representative from PMZ Realty.
The hotel loan at 5660 North Interstate 35 in Austin, Texas financed for $20.8M in 2023. 5660 North Interstate 35 is classified as Hotel on Traded. Michael Sonnabend, PMZ Realty appear on the loan alongside PMZ Realty. This page is the Austin, Texas file for the 5660 North Interstate 35 hotel financed: pricing, party profiles, and other closed hotel comps from the same Austin sit in the Market section below. Filter that Austin hotel set by closing date to see what else financed near 5660 North Interstate 35 around 2023. Published consideration for 5660 North Interstate 35 is $20.8M, dated 2023. Cite this PMZ Realty Facilitates $20.75M Acquisition Loan For Austin Hotel At 5660 N IH 35 loan when underwriting similar hotel product around Austin, Texas.
Players
Austin 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93