Hotels & hospitality

$36.9 Million Hotel Loan

abc 123 Philadelphia, PA United States
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2000

Investment Highlights

  • Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained by the Seller on an exclusive basis to arrange the sale
  • of a $36.9 million hotel loan (the “Loan”) secured by the leasehold interest in a recently renovated 279-room hotel
  • strategically located in the heart of downtown Philadelphia, Pennsylvania (the “Property” or the “Collateral”). The
  • note has a current principal balance of $36,982,000 and was originally structured with an initial three-year term and
  • two one year extension options. It carries a floating rate of L + 4.25% with interest-only payments through maturity.
  • This offering provides investors with a rare opportunity to acquire a loan of scale secured by a recently renovated
  • 279-room hotel near the Philadelphia Convention Center. The unrivaled location along with strong submarket
  • historical performance provide investors with long term upside potential.
Tom Hall
Tom Hall
Managing Director, Capital Markets
Austin Ross
Analyst

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