Hospitality

$45 Million Non-Performing Loan Sale

7700 Courtney Campbell Cswy W Tampa, FL United States 33607
Asking Price Contact for pricing
Sq. Footage N/A
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1974

Property Description

276-Key Hotel, Tampa, Florida

Investment Highlights

  • Jones Lang Lasalle (“JLL”) has been retained on an exclusive basis to
  • arrange the sale of a $45 million non-performing senior mortgage loan
  • (the “Loan”). The Loan carries an interest rate of 4.30% floating over
  • 30-day LIBOR (subject to a LIBOR floor of 1.90%), has an initial threeyear
  • term followed by two, one-year options, and features an $8 million
  • earnout advance.
  • The Loan is secured by a 276-key hotel located in Tampa, FL (the
  • “Collateral”). Constructed in 1974, the Collateral features resort style
  • amenities including a restaurant, bar, café, 7,000 square feet of meeting
  • space, two outdoor pools, a private dock, and sweeping views of Tampa
  • Bay. The Loan is further secured by a pledge and collateral assignment
  • of 100% of the membership interests (or other equity interests) in the
  • borrowing entity.
  • The Loan presents investors with the opportunity to acquire a nonperforming note on a well located, upscale hotel in a rapidly growing
  • market.
Tom Hall
Tom Hall
Managing Director
Chris Comerford
Analyst

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.