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Wright Hotels Inc Secures $24 Million Refinance Loan From Prime Finance For Cedarbrook Lodge
FINANCED
$24,000,000
Washington
See Similar DealsHotel
Financed 04/22/2026
FINANCED
Wright Hotels Inc Secures $24 Million Refinance Loan From Prime Finance For Cedarbrook Lodge
18525 36th Avenue South
See Similar DealsHotel
Financed 04/22/2026
Summary
WASHINGTON
Asset Type:Hotel
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 18525 36th Avenue South in Seattle, WA. The property features a total of 167 keys and received a refinancing loan amounting to $24,000,000. This loan is a floating-rate mortgage that refinances a previous $27 million loan.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $24,000,000
- Market: Seattle, WA
- Lender: Prime Finance
- Landlord: Wright Hotels Inc
- Broker: Sonnenblick-Eichner Co
- Previous Loan Amount: $27,000,000
- Keys: 167
Prime Finance facilitated the refinancing deal for the Cedarbrook Lodge, which was previously arranged by Sonnenblick-Eichner Co. for the owner, Wright Hotels Inc. This transaction underscores the involvement of key players within the realm of hotel financing.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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