Cardinal Point Management Acquires Hotel In Tampa For $18.9M
1200 North West Shore Boulevard, Tampa, Florida 33607, United States
$18,900,000
$156/SF
Building Size
120,812 SF
Asset Type
Hotel
Closing
Dec 29, 2021
About this deal
AI
The transaction involved a hotel asset located at 1200 N Westshore Blvd in Tampa, with a sale price of $18,900,000. The property comprises 237 keys and features a price per key of $79,747.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $18,900,000
- Address: 1200 N Westshore Blvd
- Market: Tampa
- Buyer: Cardinal Point Management
- Seller: Ben Mallah
- Brokers: Preston Reid & Wyatt Krapf - Berkadia
In this transaction, Cardinal Point Management acquired the hotel from seller Ben Mallah, facilitated by brokers Preston Reid and Wyatt Krapf representing the deal through Berkadia.
On the Map
$18,900,000
$156/SF
Hotel
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Tampa 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
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93