Hyatt Hotels Acquires Irvine Hotel From The Irvine Company For $135M
SOLD
$135,000,000
California
See Similar DealsHotel
Sold 08/19/2022
SOLD
Hyatt Hotels Acquires Irvine Hotel From The Irvine Company For $135M
17900 Jamboree Road, Irvine, California 92614, United States
See Similar DealsHotel
Sold 08/19/2022
Summary
CALIFORNIA
Asset Type:Hotel
Transaction Type:Sale
The Irvine Company has sold a hotel property located at 17900 Jamboree Road in Irvine, CA to Hyatt Hotels. The transaction took place on August 19, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $135,000,000
- Address: 17900 Jamboree Road, Irvine, CA
- Market: Irvine, CA
Hyatt Hotels, represented by Mark Hoplamazian, acted as the buyer in this deal. The Irvine Company served as the seller. The hotel property consists of 541 keys, with an average price per key of $249,538.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$479,626.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$639,968.87
Annual Debt Service$7,679,626.49
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