DiamondRock Hospitality Company Acquires Hotel In Destin For $112.5M
200 Henderson Resort Way, Destin, Florida 32541, United States
$112,500,000
$1,886/SF
Building Size
59,625 SF
Asset Type
Hotel
Closing
Dec 23, 2021
About this deal
AI
Mark W. Brugger has sold the hotel property located at 200 Henderson Resort Way in Destin. The transaction took place on December 23, 2021, with a sale price of $112,500,000. The hotel consists of 170 keys, resulting in a price per key (PPK) of $661,765. DiamondRock Hospitality Company, represented by Mark W. Brugger, acquired the property.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $112,500,000
- Address: 200 Henderson Resort Way, Destin
- Market: Destin
- Buyer: DiamondRock Hospitality Company - Mark W. Brugger
- Keys: 170
- PPK: $661,765
The sale of this hotel property in Destin was facilitated by Mark W. Brugger, representing DiamondRock Hospitality Company. The transaction marks a significant deal in the hotel market, showcasing the strategic investments made by both the buyer and the seller.
On the Map
$112,500,000
$1,886/SF
Hotel
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Destin 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93