Updated Oct 29, 2024
London & Regional Properties Acquires Marina Del Rey Hotel In Los Angeles For $127M
13480 Maxella Avenue, Marina del Rey, Los Angeles, CA, USA
$127,000,000
$832/SF
Building Size
152,486 SF
Asset Type
Hotel
Closing
May 2, 2018
About this deal
AI
Marina del Rey, a hotel located at 13480 Maxella Ave in Marina Del Rey, Los Angeles, has been sold in a closed transaction for $127,000,000. The property features 238 keys and was sold by Channel West Group to London & Regional Properties, with Richard Livingstone representing the buyer.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $127,000,000
- Address: 13480 Maxella Ave, Marina Del Rey, Los Angeles
- Market: Marina Del Rey
- Keys: 238
- Seller: Channel West Group
- Buyer: London & Regional Properties - Richard Livingstone
Richard Livingstone, representing London & Regional Properties, played a key role in the transaction as the buyer's representative. This sale marks a significant deal in the hotel market of Marina Del Rey.
Players
Marina Del Rey 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
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93