Dreamscape Companies Acquires Hotel In Phoenix, AZ For $50.5M
SOLD
$50,500,000
Arizona
See Similar DealsHotel
Sold 09/20/2022
SOLD
Dreamscape Companies Acquires Hotel In Phoenix, AZ For $50.5M
5665 East Mayo Boulevard, Phoenix, Arizona 85054, United States
See Similar DealsHotel
Sold 09/20/2022
Summary
ARIZONA
Asset Type:Hotel
Transaction Type:Sale
5665 E Mayo Blvd in Phoenix, AZ has been sold for a total of $50,500,000. The property is a hotel asset. The transaction took place on 09/20/2022.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $50,500,000
- Address: 5665 E Mayo Blvd, Phoenix, AZ
- Market: Phoenix, AZ
The buyer of the property is Dreamscape Companies, while the seller is Robert Finvarb Companies. Newmark Knight Frank represented both parties in the deal. The brokers involved in the transaction are Adam Etra, Mark Schoenholtz, and Nick Pappas, all from Newmark Knight Frank.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,693,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$179,415.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$239,395.76
Annual Debt Service$2,872,749.17
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