FINANCEDHotel
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
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.
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