Driftwood Capital Refinances Park City Hotel With $33M Loan From Goldman Sachs
1895 Sidewinder Drive
$33,000,000
Building Size
—
Asset Type
Hotel
Closing
Apr 12, 2024
About this deal
AI
Located at 1895 Sidewinder Drive in Park City, Utah, the asset involved in the transaction is a Hotel. The loan amount for the refinancing is $33,000,000 with a 5-Year Term and Full-Term IO.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $33,000,000
- Lender: Goldman Sachs (CMBS)
- Owner: Driftwood Capital
- Brokers: Michael Weinberg, Scott Wadler, Edmund Aramayo, and Alec Fox - Berkadia
The individuals and companies involved in this transaction include Scott Wadler, Alec Fox, Michael Weinberg, and Edmund Aramayo representing Berkadia in the deal.
On the Map
$33,000,000
Hotel
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Players
Park 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93