Barings Provides $78M Construction Loan For Salt Lake City Hotel
FINANCED
$78,000,000
Hotel186,767 SF
Financed 07/20/2022
FINANCED
Barings Provides $78M Construction Loan For Salt Lake City Hotel
12 South 400 West
See Similar DealsHotel186,767 SF
Financed 07/20/2022
Summary
UTAH
Asset Type:Hotel
Price Per Square Foot:$417
Total Square Footage:186,767 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$78,000,000.00
Monthly NOI$520,000.00
Monthly Debt Service$493,013.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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