Gantry Arranges $14 Million Refinance Loan For Best Western Plus Lake Front Hotel In Moses Lake
3000 West Marina Drive
$14,000,000
Building Size
—
Asset Type
Hotel
Closing
May 29, 2025
AI
The asset involved in this transaction is the Best Western Plus Lake Front Hotel located at 3000 West Marina Drive in Moses Lake, WA. The hotel is part of the hospitality sector and is subject to a refinancing loan transaction.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $14,000,000
- Loan Type: Refinance
- Loan Terms: seven-year, fixed-rate loan
- Broker: Drit Shoemaker - Gantry
The refinancing for this hotel was arranged through a regional bank, indicating a strategic move to optimize financing within the regional market. Drit Shoemaker from Gantry played a pivotal role in facilitating this loan transaction.
Players
Moses Lake 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93