Chatham Lodging Trust - Jeffrey H. Fisher Acquires Miramar Beach Hotel For $31M
220 Scenic Gulf Drive, Miramar Beach, Florida 32550, United States
$31,000,000
Building Size
—
Asset Type
Hotel
Closing
Mar 8, 2022
About this deal
AI
The Hotel located at 220 Scenic Gulf Dr in Miramar Beach has been sold for $31,000,000. The transaction was finalized on March 9, 2022. The property, which was captured in an image by Jeffrey H. Fisher, consists of 111 keys and was purchased by Chatham Lodging Trust, with representation from Jeffrey H. Fisher.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $31,000,000
- Address: 220 Scenic Gulf Dr, Miramar Beach
- Market: Miramar Beach
- Image: Jeffrey H. Fisher
- Date: 03/09/2022
- Buyer: Chatham Lodging Trust - Jeffrey H. Fisher
- Keys: 111
- PPK: $279,279
Chatham Lodging Trust, represented by Jeffrey H. Fisher, acquired the Hotel located at 220 Scenic Gulf Dr in Miramar Beach. The transaction was completed on March 9, 2022, with a sale price of $31,000,000. The property features 111 keys and a PPK (price per key) of $279,279.
Miramar Beach 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93