Ramsfield Hospitality Finance & CarVal Investors Provide $72.5M Loan For Montgomery Resort
600 Margaritaville Pkwy, Montgomery, TX, USA
$72,500,000
$1,006/SF
Building Size
72,000 SF
Asset Type
Other
Closing
Aug 20, 2020
About this deal
AI
The resort property located at 600 Margaritaville Park Way in Montgomery was recently involved in a closed transaction. This resort features 335 rooms and is owned by Songy Highroads & Wampold Cos. The property, known as Margaritaville Montgomery, is situated in a popular and picturesque location.
Summary of transaction details
- Property Type: Resort
- Transaction Amount: $72,500,000
- Address: 600 Margaritaville Park Way, Montgomery
- Rooms: 335
- Landlord: Songy Highroads & Wampold Cos.
- Lender: Ramsfield Hospitality Finance & CarVal Investors
The financing for this transaction was provided by Ramsfield Hospitality Finance and CarVal Investors. Richard Mandel and David Songy represented the property owners in this deal. The resort's prime location and unique amenities make it an attractive investment opportunity.
Players
Montgomery Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93