The Southwest Carpenters Trust Fund - Dan Langford Acquires Hotel In Los Angeles For $75M
SOLD
$75,000,000
California
See Similar DealsHotel454,398 SF
Sold 06/22/2020
SOLD
The Southwest Carpenters Trust Fund - Dan Langford Acquires Hotel In Los Angeles For $75M
6225 West Century Boulevard, Los Angeles, CA 90045
See Similar DealsHotel454,398 SF
Sold 06/22/2020
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$165
Total Square Footage:454,398 SF
Transaction Type:Sale
The Southwest Carpenters Trust Fund, represented by Dan Langford, has acquired a hotel property located at 6225 W Century Boulevard in Los Angeles. The seller of the hotel is Amalgamated Bank. The transaction took place on June 22, 2021, with a sale price of $75,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $75,000,000
- Address: 6225 W Century Boulevard
- Market: Los Angeles
Dan Langford represented The Southwest Carpenters Trust Fund in this hotel acquisition. The keys to the property include 508 rooms, and the price per key is approximately $147,637.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16
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