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2600 Overseas Hwy, Marathon...

DiamondRock Hospitality Company Acquires Marathon Hotel For $63M
SOLDHotel

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.

Players

Mark Brugger

DiamondRock Hospitality Company

Buyer

$411.7M

vol

6 deals

Buyer

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