Marcus & Millichap Capital Facilitates $9.1M Acquisition Loan For Holiday Inn Express In Colorado Springs
9856 Federal Drive Colorado Springs, Colorado 80921, USA
$9,100,000
Building Size
—
Asset Type
Hotel
Closing
Jun 27, 2023
About this deal
AI
The Holiday Inn Express & Suites in Colorado Springs has secured acquisition financing of $9.1 million. The 87-key hotel, built in 2018, is strategically located near major companies and the United States Air Force Academy. It is situated at 9856 Federal Drive, in the vibrant market of Colorado Springs, CO.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $9,100,000
- Address: 9856 Federal Drive, Colorado Springs, CO
- Market: Colorado Springs, CO
- Keys: 87
Philip Gause and Tyler Waller from Marcus & Millichap Capital Corporation served as brokers in arranging the acquisition financing for the Holiday Inn Express & Suites in Colorado Springs. Their expertise in the market and strong connections within the industry contributed to the successful completion of the deal.
On the Map
$9,100,000
Hotel
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Colorado Springs Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93