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Dynamic City Capital Acquires Canopy By Hilton Scottsdale Old Town Hotel For $102M
SOLD
$102,000,000
Arizona
See Similar DealsHotel
Sold 09/26/2023
SOLD
Dynamic City Capital Acquires Canopy By Hilton Scottsdale Old Town Hotel For $102M
7142 East 1st Street
See Similar DealsHotel
Sold 09/26/2023
Summary
ARIZONA
Asset Type:Hotel
Transaction Type:Sale
The Canopy by Hilton Scottsdale Old Town, a 177-room hotel located at 7142 East 1st Street in Scottsdale, AZ, has been sold in a significant hotel transaction. The buyer, Dynamic City Capital, acquired the property from Miller Global Properties - James Miller for nearly $102 million.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $102,000,000
- Address: 7142 East 1st Street, Scottsdale, AZ
- Market: Scottsdale, AZ
This deal marks one of the major hotel transactions in the Phoenix area this year. The Canopy by Hilton Scottsdale Old Town is now under the ownership of Dynamic City Capital, further expanding their portfolio in the hospitality industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,440,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$362,384.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$483,532.04
Annual Debt Service$5,802,384.46
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