Henderson Park Acquires Hotel On Maryland Ave SW In Washington, DC For $139M
SOLD
$139,000,000
District Of Columbia
See Similar DealsHotel
Sold 09/16/2022
SOLD
Henderson Park Acquires Hotel On Maryland Ave SW In Washington, DC For $139M
1330 Maryland Avenue Southwest, Washington, District Of Columbia 20024, United States
See Similar DealsHotel
Sold 09/16/2022
Summary
Asset Type:Hotel
Transaction Type:Sale
The Hotel located at 1330 Maryland Ave SW in Washington, DC has been sold in a transaction. The property was acquired by Henderson Park from the seller, Mandarin Oriental. The sale took place on September 16, 2022, for a total price of $139,000,000. The hotel has a total of 373 keys, with a price per key (PPK) of 372,654.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $139,000,000
- Address: 1330 Maryland Ave SW, Washington, DC
- Market: Washington, DC
The transaction was facilitated by JLL, who represented both the buyer, Henderson Park, and the seller, Mandarin Oriental.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,413,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$493,837.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$658,930.91
Annual Debt Service$7,907,170.97
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