Global Hospitality Investment Group Acquires Hotel In Scottsdale For $88.0M With Loan From ACORE
5401 N Scottsdale Rd Scottsdale, AZ 85250, USA
$88,035,000
Building Size
—
Asset Type
Hotel
Closing
Jul 21, 2023
About this deal
AI
The property involved in this transaction is a hotel located at 5401 North Scottsdale Road in Scottsdale. The loan amount for the acquisition of this hotel is $88,035,000. The lender for this loan is ACORE, represented by Warren De Haan. The landlord of the property is Global Hospitality Investment Group, represented by Kevin Colket. The brokers involved in this deal are Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Tyler Dumon from Newmark.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $88,035,000
- Lender: ACORE - Warren De Haan
- Landlord: Global Hospitality Investment Group - Kevin Colket
- Brokers: Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Tyler Dumon - Newmark
Warren De Haan represents ACORE as the lender in this transaction. Kevin Colket, on the other hand, represents Global Hospitality Investment Group as the landlord of the hotel. Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Tyler Dumon from Newmark serve as the brokers facilitating the deal. Their expertise and negotiation skills are crucial in ensuring a successful acquisition of the hotel.
On the Map
$88,035,000
Hotel
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Players
Scottsdale Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93