Cottonwood Group & The Domain Companies Secure $102M Loan For Kimpton Hotel In Salt Lake City
370 West Temple
$102,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 31, 2026
AI
The asset involved in this transaction is a development site located at 370 West Temple in Salt Lake City, UT. The financing secured for the property amounts to $102,000,000, which is designated for the construction of a 216-room Kimpton hotel.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $102,000,000
- Address: 370 West Temple
- Market: Salt Lake City, UT
- Landlord: Cottonwood Group & The Domain Companies
- Delivery Target: Q1 2028
Key individuals involved in this transaction include brokers Matt Weiner, Jonathan Morrow, and Dustin Stolly from Walker & Dunlop, representing the landlords, Cottonwood Group and The Domain Companies.
Players
Salt Lake City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93