Eagle Point Hotel Partners Acquires Ascent On Main Boutique Hotel In Parker, CO For $8.2M
18595 East Mainstreet
$8,200,000
Building Size
—
Asset Type
Hotel
Closing
Jan 9, 2024
About this deal
AI
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.
On the Map
$8,200,000
Hotel
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Players
Parker 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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93