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
About this deal
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.
On the Map
$29,000,000
Hotel
View full map
Players
Scottsdale Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
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