CBRE Secures $27M Refinance For Hampton Inn & Suites By Hilton Seattle Downtown
700 5th Avenue North
$27,000,000
Building Size
—
Asset Type
Hotel
Closing
Nov 20, 2024
AI
The transaction involved a refinance loan for the Hampton Inn & Suites by Hilton Seattle Downtown, a 199-room hotel located at 700 5th Avenue North in Seattle, WA. The loan amount was $27,000,000, supporting the hotel's financial needs following its renovation in 2020.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $27,000,000
- Loan Type: Refinance
- Address: 700 5th Avenue North
- Market: Seattle, WA
- Asset Size: 199 rooms
CBRE arranged the refinancing for the property, with Connor Lemley, Griffin Walker, and Regina Wang representing the brokerage in this transaction.
Players
Seattle 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93