Dynamic City Capital Acquires Canopy By Hilton Scottsdale Old Town Hotel For $102M
7142 East 1st Street
$102,000,000
Building Size
—
Asset Type
Hotel
Closing
Sep 26, 2023
About this deal
AI
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.
On the Map
$102,000,000
Hotel
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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
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93