Prism Development LLC Acquires Clearwater Property From Mega C Hospitality LLC Represented By Dennis Hopper
2940 Gulf to Bay BLVD, Clearwater, F...
Building Size
—
Asset Type
Hotel
Closing
Nov 19, 2023
AI
Days Inn By Wyndham is a 90-room hotel located at 2940 Gulf to Bay Blvd in Clearwater, Florida. The property is situated approximately 13.6 miles from Tampa International Airport and six miles from Clearwater Beach. The square footage of the hotel is not specified.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Buyer: Prism Development LLC
- Seller: Mega C Hospitality LLC
- Buyer's Representative: Dennis Hopper - DSH Hotel Advisors
- Seller's Representative: Randy Taylor - DSH Hotel Advisors
- Market: Clearwater
The transaction was executed by DSH Hotel Advisors, a hotel brokerage and advisory firm based in Tampa. Both the buyer and seller were represented by Dennis Hopper and Randy Taylor of DSH Hotel Advisors, showcasing the firm's involvement in facilitating the sale.
Players
Clearwater 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93