Hospitality

$5.3 Million Non-Performing Hotel Loan Sale

abc 123 Various, Alaska 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

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1986

Property Description

Jones Lang LaSalle ("JLL") has been retained on an exclusive basis to arrange the sale of a $5.3 million non-performing loan (the "Loan"). The ten (10) year Loan was originated on August 08, 2014 and was well performing through March 2020. The Loan featured a 4.77% interest rate and payments made on a 25-year amortization schedule. The Loan is currently non-performing due to COVID-19 related issues. The opportunity allows the investor a direct path to title. The Loan is secured by a first-lien Deed of Trust on a 54 key limited-service hotel located outside of Anchorage in Wasilla, AK at the gates of Denali National Park (the "Collateral"). The 2-story hotel was constructed in 1986 and features a business center, fitness center, 150 on-site parking spaces, and 7,500 SF of meeting space. The hotel offers a total of 54 guestrooms and suites, of which 24 are queens, 25 double queens, 4 suites, and 1 ADA accessible. The Loan presents investors with the opportunity to acquire a COVID affected Loan which was well-performing Pre-COVID.

Investment Highlights

  • SUPERIOR PERFORMER - The Property has continuously outperformed both the Alaskan market and the Property's competitive set with a RevPAR of $99.47 compared to the competitive set's $71.19 in 2019.
  • COVID AFFECTED - The Property and Loan were well performing Pre-COVID which portends to a quicker recovery and return to 2019 performance levels.
  • ALASKA MARKET - Located in-between Anchorage and Denali National Park, the Property is nestled lakeside in one of the largest suburbs of Anchorage, and often used as a cost effective "homebase" for the Alaskan outdoor adventures.
  • ATTRACTIVE BASIS - The Loan sits at an attractive basis of $98,229 per key which is below replacement cost for the market.
  • HIGH BARRIERs TO ENTRY - Current market supply benefits from high barriers to entry fueled by a shortage of labor and a limited construction window during the summer months.
Last Updated Date: 14 Jan 2021
Tom Hall
Tom Hall
Managing Director, Capital Markets
Clayton Ross
Clayton Ross
Associate

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Last Updated Date: 14 Jan 2021

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