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3011 Maingate Lane, Kissimm...

Updated Oct 29, 2024

Kawa Acquires 434-Room Hotel In Kissimmee For $16.4M
SOLDHotel

Kawa Acquires 434-Room Hotel In Kissimmee For $16.4M

3011 Maingate Lane, Kissimmee, FL, USA

$16,363,000

$221/SF

Building Size

74,031 SF

Asset Type

Hotel

Closing

Jan 21, 2021

About this deal

AI

An affiliate of Kawa has acquired the ground lease of a seven-story, 434-room hotel located at 3011 Maingate Lane in Kissimmee, Florida. The transaction, brokered by Jose Sasson and Roberto Susi of Axiom Capital Advisors, closed on January 22, 2021. The property, situated on over 16 acres of land, is less than 10 miles from Walt Disney World and features 30,000 square feet of conference space. Upon completion of renovations, the hotel will be rebranded as a Wyndham. Additional amenities include a top golf entertainment center, a full Starbucks store, and a modern indoor children's playground.

Summary of transaction details:

  • Property Type: Hotel
  • Sale Price: $16,363,000
  • Address: 3011 Maingate Lane, Kissimmee
  • Market: Kissimmee
  • Rooms: 434
  • Buyer: An affiliate of Kawa
  • Seller: An affiliate of AD1 Global
  • Brokers: Jose Sasson & Roberto Susi - Axiom Capital Advisors
  • Acres: 16
  • Price per Acre (PPA): $1,022,688

This off-market transaction represents a significant investment by Kawa, positioning the company to capitalize on the tourism industry in the Kissimmee market. Jose Sasson and Roberto Susi played a pivotal role as the brokers from Axiom Capital Advisors, facilitating the deal between the acquiring party and the selling entity, an affiliate of AD1 Global.

On the Map

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$16,363,000

$221/SF

Hotel

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Players

Jose Sasson Lerner

AXIOM Capital Advisors

Broker

$954.1M

vol

85 deals

Broker
AG
AD1 GlobalSeller
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Kissimmee Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Deal FAQ

About $221 per square foot on a published $16.4M for 74,031 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.97%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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