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Aids Health Foundation Acquires Hotel From Balaji Investments For $17 Million In Fort Lauderdale

Property Image
SOLD
$17,000,000
Ryan Shaw
Bradley Arendt
+ 1

Florida

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Hotel55,269 SF
Sold 10/10/2024
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Property Image
SOLD

Aids Health Foundation Acquires Hotel From Balaji Investments For $17 Million In Fort Lauderdale

1700 West Broward Boulevard

See Similar Deals
Hotel55,269 SF
Sold 10/10/2024
Ryan Shaw
Bradley Arendt
+ 1
Contact now

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$307
Total Square Footage:55,269 SF
Transaction Type:Sale

The asset involved in this transaction is a hotel located at 1700 West Broward Boulevard, Fort Lauderdale. The sale was completed for a total price of $17,000,000. The property encompasses a total square footage of 55,269, resulting in a price per square foot of $307.

Summary of transaction details:

The transaction involved key figures such as Ryan Shaw representing the buyer, Aids Health Foundation, while the seller, Balaji Investments, was represented by Bradley Arendt, Jonathan Papeika, and Mika Mattingly. This collaboration between Marcus & Millichap and Colliers highlights the professional brokerage teams engaged in facilitating the sale of this hotel asset.

Players

Mika Mattingly
34 deals$528.8M volume(786) 486-4391
BROKER

Bradley Arendt
Colliers
16 deals$175.4M volume
BROKER

Ryan Shaw
Marcus & Millichap
22 deals$145.7M volume
BROKER

Jonathan Papeika
Colliers
4 deals$33.2M volume(305) 900-3067
BROKER

Details

SOLD
IMAGE: Jonathan Papeika, Mika Mattingly, Ryan Shaw & Bradley Arendt DATE: 10/10/2024 ADDRESS: 1700 West Broward Boulevard MARKET: Fort Lauderdale ASSET TYPE: Hotel BUYER: Aids Health Foundation (AHF) SELLER: Balaji Investments BUYER'S REP: Ryan Shaw (@RtShaw29) - Marcus & Millichap (@MarcusMillichapinc) SELLER'S REP: Bradley Arendt (@Bradley_ftl_26), Jonathan Papeika (@JPapeika2) & Mika Mattingly (@UrbanCoreTeam) - Colliers (@ColliersInternational) SALE PRICE: $17,000,000 SF: 55,269 ~ PPSF: $307

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$906,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08