Barings Provides $78M Construction Loan For Salt Lake City Hotel
12 South 400 West
$78,000,000
$417/SF
Building Size
186,767 SF
Asset Type
Hotel
Closing
Jul 20, 2022
About this deal
AI
The hotel property located at 12 South 400 West in Salt Lake City, Utah, has undergone a closed transaction. The property spans approximately 186,767 square feet and is classified as a hotel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $78,000,000
- Address: 12 South 400 West, Salt Lake City, Utah
- Market: Salt Lake City, Utah
- Lender: Barings
- Landlord: The Athens Group & Hatteras Sky
- Brokers: Malcolm Davies & Zack Streit - WAY Capital, Inc.
- Loan Type: Construction
Barings provided a loan amounting to $78,000,000 for the hotel property construction project. The deal was facilitated by the brokers Malcolm Davies and Zack Streit from WAY Capital, Inc.
Players
Salt Lake City 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93