MCR Acquires Hilton Miami Airport Blue Lagoon Hotel In Miami For $118.3M
5101 Blue Lagoon Drive
$118,250,000
Units
508
Asset Type
Hotel
Closing
Mar 2, 2023
About this deal
AI
The Hilton Miami Airport Blue Lagoon located at 5101 Blue Lagoon Drive in Miami was recently sold in a closed transaction. The property, spread across 20.5 acres, is a hotel.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $118,250,000
- Address: 5101 Blue Lagoon Drive, Miami
- Market: Miami
- Acres: 20.5
MCR, represented by Tyler Morse, acquired the property from Park Hotels & Resorts. The sale was finalized on 02/03/2023.
Additionally, the transaction included 508 keys, and the price per key was $232,776.
On the Map
$118,250,000
Hotel
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Players
Miami 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93