Oliver Cos Acquires Tampa Hotel From Square Mile Capital Management For $75.9M
3050 North Rocky Point Drive West, Rocky Point, Florida 33607, United States
$75,900,000
Building Size
—
Asset Type
Hotel
Closing
Apr 17, 2023
AI
The hotel located at 3050 North Rocky Point Drive West in Tampa has been sold for a total of $75,900,000. The transaction took place on January 13, 2023.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $75,900,000
- Address: 3050 North Rocky Point Drive West, Tampa
The buyer of the hotel is Oliver Cos, represented by Seth Oliver. They have acquired the property from Square Mile Capital Management, with Craig Solomon serving as their representative in the deal.
Furthermore, the hotel comes with 203 keys, and the price per key (PPK) amounts to $373,892.
Players
Tampa 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93