Tampa Bay Buccaneers & SCG Beach Hospitality LLC Acquire Hotel In St. Pete Beach For $84.2M
4900 Gulf Boulevard, St Pete Beach, Florida 33706, United States
$84,200,000
$1,349/SF
Building Size
62,391 SF
Asset Type
Hotel
Closing
May 26, 2022
About this deal
AI
The Tampa Bay Buccaneers and SCG Beach Hospitality LLC, led by Bryan Glazer, have acquired a hotel asset in St. Pete Beach. The property, located at 4900 Gulf Blvd, was sold by Dolphin Holdings Limited Inc. for a total price of $84,200,000. The transaction included the transfer of 173 keys, with a price per key of $486,705.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $84,200,000
- Address: 4900 Gulf Blvd
- Market: St. Pete Beach
- Buyer: Tampa Bay Buccaneers & SCG Beach Hospitality LLC - Bryan Glazer
- Seller: Dolphin Holdings Limited Inc.
- Keys: 173
- Price Per Key: $486,705
The acquisition was led by Bryan Glazer and his team, representing the Tampa Bay Buccaneers and SCG Beach Hospitality LLC. Dolphin Holdings Limited Inc. acted as the seller in the deal.
Players
St Pete Beach 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93