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220 Scenic Gulf Drive, Mira...

Updated Oct 28, 2024

Chatham Lodging Trust - Jeffrey H. Fisher Acquires Miramar Beach Hotel For $31M
SOLDHotel

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.

Players

Jeffrey H. Fisher

Chatham Lodging Trust

Buyer

$200.2M

vol

4 deals

Buyer

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

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