Peachtree Hotel Group Acquires Aventura Hotel From Norwich Partners For $49.5M
20805 Biscayne Boulevard, Aventura, Florida 33138, United States
$49,500,000
Building Size
—
Asset Type
Hotel
Closing
Jan 10, 2022
AI
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.
Miami 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93