AKA Serviced Residences Buys Hotel From George Washington University In Washington Deal
SOLD
$49,000,000
Hotel
Sold 06/29/2022
SOLD
AKA Serviced Residences Buys Hotel From George Washington University In Washington Deal
1 Washington Cir NW, Washington, DC...
See Similar DealsHotel
Sold 06/29/2022
Summary
Asset Type:Hotel
Transaction Type:Sale
The hotel located at 1 Washington Cir NW in Washington, DC was sold for $49,000,000.00. The property was purchased by AKA Serviced Residences from the seller, George Washington University.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $49,000,000.00
- Address: 1 Washington Cir NW, Washington, DC
- Market: Washington
- Seller's Representative: Marc Magazine (Savills)
- Buyer: AKA Serviced Residences
Marc Magazine from Savills represented the seller, George Washington University, in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$174,086.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$232,285.00
Annual Debt Service$2,787,419.98
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