Privé Group Acquires Hotel In Fort Lauderdale For $17.3M
2301 SW 12th Ave, Fort Lauderdale, FL, USA
$17,300,000
$317/SF
Building Size
54,540 SF
Asset Type
Hotel
Closing
Jan 2, 2020
About this deal
AI
The hotel located at 2301 Southwest 12 Ave in Fort Lauderdale has been sold for a price of $17,300,000. The sale took place on January 3, 2020. The hotel is owned by Apple Hospitality REIT and was purchased by Privé Group, represented by Javier Rabinovich and Mariano Karner. The transaction was facilitated by Ruth Katz from RK Commercial Real Estate LLC.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $17,300,000
- Address: 2301 Southwest 12 Ave, Fort Lauderdale
- Market: Fort Lauderdale
- Square Footage: 54,540 SF
- Price per Square Foot: $317
- Number of Units: 109
- Price per Unit: $157,798
Javier Rabinovich and Mariano Karner, representing Privé Group, successfully acquired the hotel from Apple Hospitality REIT. Ruth Katz from RK Commercial Real Estate LLC played a significant role in brokering the deal.
Players
Fort Lauderdale 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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93