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Eagle Point Hotel Partners Acquires Ascent On Main Boutique Hotel In Parker, CO For $8.2M
SOLD
$8,200,000
Colorado
See Similar DealsHotel
Sold 01/09/2024
SOLD
Eagle Point Hotel Partners Acquires Ascent On Main Boutique Hotel In Parker, CO For $8.2M
18595 East Mainstreet
See Similar DealsHotel
Sold 01/09/2024
Summary
COLORADO
Asset Type:Hotel
Transaction Type:Sale
Avison Young facilitated the sale of Ascent on Main, a boutique hotel located at 18595 Mainstreet in Parker, a southeast suburb of Denver. The hotel was sold by Independent Bank, which oversaw the property in receivership, to Eagle Point Hotel Partners for a total of $8.2 million.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $8,200,000
- Address: 18595 Mainstreet, Parker, CO
- Market: Parker, CO
Stephen Chan of Eagle Point Hotel Partners acted as the buyer in this transaction. The seller, representing the hotel's ownership, was Stephen Chan of Eagle Point Hotel Partners. Chris Kilcullen from Avison Young served as the broker in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$437,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20
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