1610 Broadway - Cotton Court Hotel

This Hotel property located in Texas received a loan of $21,000,000 21 days ago. The broker of the deal was Patrick Brown

Location
1610 Broadway St, Lubbock, TX 79401, United States
Loan Value
$21,000,000
Asset Type
Hotel
Parties
1 Broker, 1 Agency, 1 Lender

Agent

Patrick Brown

Sonnenblick-Eichner Company

Deals5

Financed$ 150,000,000

Agency

Social

Deal Summary:

LOAN IMAGE: Doyle Graham Jr. & Patrick Brown DATE: 09/12/2023 ADDRESS: 1610 Broadway - Cotton Court Hotel MARKET: Lubbock ASSET TYPE: Hotel ~ KEYS: 165 LENDER: Deutsche Bank (@deutschebank) LANDLORD: Valencia Hotel (@valenciahotelgroup) - Doyle Graham Jr. BROKER: Patrick Brown - Sonnenblick-Eichner Co. LOAN AMOUNT: $21,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year loan, which requires only interest payments for its full term NOTE: Sonnenblick-Eichner Co. has arranged a $21 million mortgage for the Cotton Court hotel in Lubbock, Texas. The five-year loan, provided by Deutsche Bank, required a buy-down payment to achieve a 7.6 percent coupon rate and will be securitized. #Texas #RealEstate #TradedTexas #CottonCourtHotel #Lubbock #Hotel #DeutscheBank #ValenciaHotel #DoyleGrahamJr #PatrickBrown #SonnenblickEichnerCo