Peachtree Hotel Group Acquires Aventura Hotel From Norwich Partners For $49.5M
SOLD
$49,500,000
Florida
See Similar DealsHotel
Sold 01/10/2022
SOLD
Peachtree Hotel Group Acquires Aventura Hotel From Norwich Partners For $49.5M
20805 Biscayne Boulevard, Aventura, Florida 33138, United States
See Similar DealsHotel
Sold 01/10/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
Located at 20805 Biscayne Boulevard in Aventura, this hotel property was recently sold in a transaction valued at $49,500,000. The sale took place on January 10, 2022.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $49,500,000
- Address: 20805 Biscayne Boulevard, Aventura
- Market: Aventura
The buyer in this transaction was Peachtree Hotel Group, represented by Greg Friedman. They acquired the property from Norwich Partners, with David Leatherwood as their representative. The lender involved in the deal was MetLife Real Estate Lending. The hotel consists of 233 keys, with a price per key of $212,841.
Please note that no additional information is available regarding the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,640,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$175,863.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,655.25
Annual Debt Service$2,815,863.04
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