SOLDHotel
Summit Hotel Properties Acquires Hotel On North Scottsdale Road In $29M Deal
17011 North Scottsdale Road, Scottsdale, AZ 85255, United States
$29,000,000
Building Size
—
Asset Type
Hotel
Closing
Jun 12, 2023
AI
The hotel property located at 17011 North Scottsdale Road in Scottsdale, AZ has been sold. The transaction took place on 06/12/2023. The hotel has a total of 120 keys and the sale price for the property was $29,000,000, resulting in a price per key of $241,667.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $29,000,000
- Address: 17011 North Scottsdale Road, Scottsdale, AZ
- Market: Scottsdale, AZ
- Keys: 120
- Price Per Key: $241,667
The buyer of the hotel property is Summit Hotel Properties.
Players
Scottsdale Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93