Holiday Inn Express Royse City

Location: Royse City, TX
Type: Hospitality
Price: $ 3,990,000

SMC has provided a $3,990,000 first mortgage to refinance existing debt. The property is a 68-room, limited service hotel offering a 24-hour business center, fitness center, complimentary breakfast, free WiFi, and an outdoor swimming pool. The Hotel is located just off of Interstate 30, approximately 30 miles northeast of the Dallas, TX CBD. The Loan boasts strong metrics, with an underwritten debt yield of 11.6% and a 1.92x DSCR. Coverage on historicals, adjusted for 4% FF&E, ranges from 1.36x in 2012 to 2.15x in trailing 2014.