Tides Folly Beach
A hotel property in Folly Beach, South Carolina. Securitized in 1 CMBS deal in 2021.
$76.0MAppraised value (latest deal)
82.1%Occupancy
$6.4MUnderwritten NOI
8.4%Implied cap rate
- Address
- 1 Center Street, Folly Beach, SC 29439
- Property type
- Hotel · Full Service
- Year built
- 1985
- Size
- 132 Rooms
- Sponsor
- Jonathan P. Weitz
- Loan purpose
- Refinance
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2021-BNK36 | 2021-10-07 | $76.0M | 82.1% | $6.4M | 8.4% | $45.9M | 60.4% | 2.27x | 424B |
Historical NOI reported in BANK 2021-BNK36
| Period ending | NOI |
|---|---|
| 7/31/2021 | $6.5M |
| 12/31/2020 | $3.3M |
| 12/31/2019 | $4.5M |
More CMBS properties in South Carolina →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.