JEMB Realty Corp Acquires Clearwater Hotel At 100 Coronado Dr For $170M
100 Coronado Drive, Clearwater, Florida 33767, United States
$170,000,000
Building Size
—
Asset Type
Hotel
Closing
Mar 30, 2022
About this deal
AI
The property involved in this transaction is a hotel located at 100 Coronado Dr in Clearwater. The sale took place on March 31, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $170,000,000
- Address: 100 Coronado Dr
- Market: Clearwater
The buyer in this transaction is JEMB Realty Corp, represented by Morris Bailey & Joseph Jerome. The seller is Dr. Kiran Patel.
Key details of the sale include the purchase price of $170,000,000 and a total of 343 keys. The price per key was $495,627.
On the Map
$170,000,000
Hotel
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Players
Clearwater 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93