DiamondRock Hospitality Company Acquires Marathon Hotel For $63M
2600 Overseas Hwy, Marathon, Florida 33050, United States
$63,000,000
Building Size
—
Asset Type
Hotel
Closing
Jan 6, 2022
AI
DiamondRock Hospitality Company, represented by Mark W. Brugger, has acquired a hotel property located at 2600 Overseas Hwy in Marathon. The hotel occupies an expansive 12-acre plot of land in this prime location. The transaction was completed on January 6, 2022.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $63,000,000
- Address: 2600 Overseas Hwy, Marathon
- Market: Marathon
- Acres: 12
DiamondRock Hospitality Company, a prominent player in the hospitality industry, made this significant acquisition. Mark W. Brugger, representing DiamondRock Hospitality Company, played a key role in facilitating the transaction. The hotel property offers tremendous potential and opportunities for growth in the vibrant market of Marathon.
Marathon 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93