Updated Oct 29, 2024
Dynamic City Capital Acquires San Diego Hotel From T2 Hospitality For $119M
2137 Pacific Highway, San Diego, CA, USA
$119,000,000
$2,151/SF
Building Size
55,321 SF
Asset Type
Hotel
Closing
Feb 22, 2021
About this deal
AI
The Hotel property located in San Diego has been sold in a closed transaction. The property was sold by T2 Hospitality to Joel Sybrowsky, Cory Turner, Ryan Phelps, Nate Taylor, Adam Ricks & Tom Jacobson, represented by Dynamic City Capital. The transaction took place on February 23, 2021.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $119,000,000
- Number of Rooms: 364
- Price per Room (PPR): $326,923
- Market: San Diego
Joel Sybrowsky, Cory Turner, Ryan Phelps, Nate Taylor, Adam Ricks & Tom Jacobson, represented by Dynamic City Capital, acted as the buyers in the transaction. T2 Hospitality, on the other hand, served as the seller. The property consists of a total of 364 rooms, with a sale price of $119,000,000, resulting in a price per room (PPR) of $326,923. This closed transaction marks the successful transfer of ownership from the seller to the buyers.
Players
San Diego 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93