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At Mine Hospitality Leases 39-Key Hotel In Fort Lauderdale From Landlord Andrey Shelestov

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LEASED

Florida

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Hotel15,156 SF
Leased 01/10/2022
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LEASED

At Mine Hospitality Leases 39-Key Hotel In Fort Lauderdale From Landlord Andrey Shelestov

1147 Seabreeze Boulevard, Fort Lauderdale, Florida 33316, United States

See Similar Deals
Hotel15,156 SF
Leased 01/10/2022
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Total Square Footage:15,156 SF
Transaction Type:Lease

Another addition to At Mine Hospitality's portfolio in Florida, a 39-key hotel located at 1147 Seabreeze Blvd in Fort Lauderdale, has been leased. The lease deal was finalized on January 10, 2022, with a modified gross lease agreement for a term of 5 years. The landlord, Andrey Shelestov, agreed to lease the property to At Mine Hospitality, represented by Samuel Raccah & Jason Belisario. The asking rent for the 15,156 square feet hotel property was $50 per square foot, amounting to $750,000 per year.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Modified Gross Lease

At Mine Hospitality, led by Samuel Raccah & Jason Belisario, is expanding its presence in Florida with this additional hotel property. The company's portfolio has already reached over 100 keys within less than a year of operation. With plans to exceed 500 rooms in the next 12 months, At Mine Hospitality aims to generate approximately $5 million in profits annually, thanks to its ongoing expansion efforts and upcoming deals in negotiation.

Details

LEASED
IMAGE: Samuel Raccah & Jason Belisario DATE: 01/10/2022 ADDRESS: 1147 Seabreeze Blvd MARKET: Fort Lauderdale ASSET TYPE: Hotel LANDLORD: Andrey Shelestov TENANT: At Mine Hospitality - Samuel Raccah (@SamuelRaccah) & Jason Belisario (@JasonBelisario) ASKING RENT: $50/ft. ~ SF: 15,156 LEASE TYPE: Modified Gross Lease LEASE TERMS: 5 years, $750,000/year NOTE: At Mine Hospitality continues its expansion in Florida with another 39 key hotel in Fort Lauderdale. The company's portfolio has already exceeded 100 keys with less than a year of operation. The company aims at exceeding 500 rooms in the next 12 months and with current deals in negotiation, it is on track to reach about $5M in profits on a 12-month basis.

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Deal Type
Effective Rent (Annual)

$868,732.77

Total Lease Value

$8,687,327.74

Net Landlord Cash Flow$868,732.77