Dauntless Capital Partners Acquires Residence Inn Tampa Westshore Hotel For $34.5M
4312 West Boy Scout Boulevard
$34,480,000
Building Size
—
Asset Type
Hotel
Closing
Jan 8, 2024
About this deal
AI
The Residence Inn Tampa Westshore Airport Hotel, located at 4312 West Boy Scout Boulevard in Tampa, has been sold for $34.48 million. The 160-room hotel, part of Marriott International’s extended-stay brand family, was acquired by Dauntless Capital Partners, a private equity firm based in Houston. The hotel is situated in Tampa's Westshore district and attracts a mix of corporate and leisure transient business.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $34,480,000
- Address: 4312 West Boy Scout Boulevard - Residence Inn Tampa Westshore
- Market: Tampa
The buyer for this transaction was Craig Ballard, representing Dauntless Capital Partners. The seller was Barry S. Sternlicht from Starwood Capital. The deal was facilitated by Matthew Sinclair from The Plasencia Group.
Noteworthy is the fact that the purchase price is $8.17 million lower than the price paid in 2019.
On the Map
$34,480,000
Hotel
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Players
Tampa Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93