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Gantry Arranges $14 Million Refinance Loan For Best Western Plus Lake Front Hotel In Moses Lake
FINANCED
$14,000,000
Washington
See Similar DealsHotel
Financed 05/29/2025
FINANCED
Gantry Arranges $14 Million Refinance Loan For Best Western Plus Lake Front Hotel In Moses Lake
3000 West Marina Drive
See Similar DealsHotel
Financed 05/29/2025
Summary
WASHINGTON
Asset Type:Hotel
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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