Updated Oct 19, 2026
Kirkwood Collection Acquires 45-room Palm Springs Hotel Portfolio For $28.3M
339 S Belardo Rd, Palm Springs, CA 92262, United States
$28,300,000
Building Size
—
Asset Type
Hotel
Closing
Jun 30, 2023
About this deal
AI
Kirkwood Collection, led by Alex Kirkwood, has acquired a 45-room hotel portfolio in Palm Springs for $28.3 million. The portfolio includes La Serena Villas, Del Marcos Hotel, and The Three Fifty Hotel, all located in the popular tourist destination. These hotels offer amenities such as spas and pools, catering to the needs of the visitors.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $28,300,000
- Address: 339 Belardo Road - La Serena Villas & 225 West Baristo Road - Del Marcos Hotel & 350 South Belardo Road - The Three Fifty Hotel
- Market: Palm Springs
The seller of the hotel portfolio is Lars & Kelly Viklund. Kirkwood Collection, represented by Alex Kirkwood, completed the transaction as the buyer.
On the Map
$28,300,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93