Dynamic City Capital Acquires Fort Lauderdale Hotel From Key International & Westford Real Estate Investors
SOLD
$74,300,000
Florida
See Similar DealsHotel
Sold 02/23/2022
SOLD
Dynamic City Capital Acquires Fort Lauderdale Hotel From Key International & Westford Real Estate Investors
3029 Alhambra Street, Fort Lauderdale, Florida 33304, United States
See Similar DealsHotel
Sold 02/23/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
Located at 3029 Alhambra St in Fort Lauderdale, this hotel property was recently sold in a closed transaction. The deal was facilitated by Nick Plasencia from Plasencia Group, representing both the buyer, Dynamic City Capital, and the seller, Key International & Westford Real Estate Investors. The sale price for this hotel property was $74,300,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $74,300,000
- Address: 3029 Alhambra St
- Market: Fort Lauderdale
The transaction involved a total of 171 keys, with a price per key of approximately $434,503. No additional information is available regarding the specifics of the hotel, such as its square footage or any notable features.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,962,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$263,972.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$352,219.91
Annual Debt Service$4,226,638.87
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