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Surprise, AZ Hotel Refinanced For $8.1M By Suraj Desai - Black Bear Capital Partners

12477 West Bell Road
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This Hotel property located in AZ received a loan of $8,100,000 over 1 year ago. The broker of the deal was Suraj Desai

The 86-key Days Inn Hotel located at 12477 W Bell Road in Surprise, AZ has undergone a refinancing transaction. The property, to be converted into an 86-key Candlewood Suites, has been refinanced with a 5-year fixed rate loan at 71% loan-to-value (LTV) ratio. The loan amount for this transaction is $8,100,000.

Summary of Transaction Details:

  • Property Type: Hotel
  • Transaction Amount: $8,100,000
  • Address: 12477 W Bell Road, Surprise, AZ
  • Market: Surprise, AZ
  • Loan Type: Refinance
  • Loan Terms: 5-year fixed rate loan with interest-only payments
  • Broker: Suraj Desai - Black Bear Capital Partners

The property, originally a 60-key Days Inn Hotel, is being transformed into an 86-key Candlewood Suites. This refinancing deal provides an opportunity for the property to be repositioned and attract a different clientele. Suraj Desai of Black Bear Capital Partners represented parties involved in this transaction.

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Deals
  • Location
    12477 West Bell Road, Surprise, Arizona 85378, United States12477 West Bell Road, Surprise, Arizona 85378, United States
  • Loan Value
    $8,100,000$8,100,000
  • Asset Type
    HotelHotel
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Suraj Desai

Suraj Desai

Deals33
Financed$711.8M

Agency

Black Bear Capital Partners

Black Bear Capital Partners

Agency
Deals294
Volume$6.3B

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Deal Summary

LOAN IMAGE: Suraj Desai DATE: 06/29/2022 ADDRESS: 12477 W Bell Road MARKET: Surprise, AZ ASSET TYPE: Hotel ~ KEYS: 86 BROKER: Suraj Desai - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $8,100,000 LOAN TYPE: Refinance LOAN TERMS: The 60-key Days Inn Hotel (to be converted into a 86-key Candlewood Suites) was refinanced with a 5-year fixed rate loan at 71% LTV with interest-only payments.

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12477 West Bell Road

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