The Hare Krishna Lantana Hotel Acquires Lantana Heights Hotel For $8.4M
1310 West Lantana Road, Lantana Heights, Lantana, FL, USA
$8,400,000
$212/SF
Building Size
39,520 SF
Asset Type
Hotel
Closing
Jan 27, 1920
About this deal
AI
The Hare Krishna Lantana Hotel in Lantana Heights has been sold for a price of $8,400,000. This hotel, located at 1310 West Lantana Road, spans across an area of 39,520 square feet. The sale price per square foot amounts to $212. The property consists of 154 units, making the price per unit $54,545.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,400,000
- Address: 1310 West Lantana Road
- Market: Lantana Heights
The buyer of the hotel is The Hare Krishna Lantana Hotel, represented by Vijay Patel. The seller is G6 Hospitality, represented by Rob Palleschi.
Players
Lantana 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
1.89%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93