Dreamscape Companies Acquires Hotel In Phoenix, AZ For $50.5M
5665 East Mayo Boulevard, Phoenix, Arizona 85054, United States
$50,500,000
Building Size
—
Asset Type
Hotel
Closing
Sep 19, 2022
About this deal
AI
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.
On the Map
$50,500,000
Hotel
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Phoenix 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93