Southwest Value Partners Acquires JW Marriott Tucson Starr Pass Resort & Spa In Tucson, AZ For $110M
SOLD
$110,000,000
+ 1
Arizona
See Similar DealsHotel
Sold 04/26/2023
SOLD
Southwest Value Partners Acquires JW Marriott Tucson Starr Pass Resort & Spa In Tucson, AZ For $110M
3800 W. Starr Pass Blvd (JW Marriott Tucson Starr Pass Resort & Spa)
See Similar DealsHotel
Sold 04/26/2023
+ 1
Summary
ARIZONA
Asset Type:Hotel
Transaction Type:Sale
The asset involved in the transaction is a hotel located at 3800 W. Starr Pass Blvd, specifically the JW Marriott Tucson Starr Pass Resort & Spa in Tucson, AZ. The sale occurred for a total amount of $110,000,000, involving 575 keys and an estimated price per key of $191,304.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $110,000,000
- Buyer: Southwest Value Partners
- Seller: Fortress Investment Group
- Brokers: Christian Charre, Jennifer Bergamo, Paul Weimer & Jennifer Jin - CBRE
- Address: 3800 W. Starr Pass Blvd (JW Marriott Tucson Starr Pass Resort & Spa)
- Market: Tucson, AZ
- Keys: 575
- PPK: $191,304
The key individuals in this transaction include the brokers Christian Charre, Jennifer Bergamo, Paul Weimer, and Jennifer Jin, who represented the involvement of Southwest Value Partners as the buyer and Fortress Investment Group as the seller during this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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