MCR Acquires Hilton Miami Airport Blue Lagoon Hotel In Miami For $118.3M
5101 Blue Lagoon Drive
$118,250,000
Building Size
—
Asset Type
Hotel
Closing
Mar 2, 2023
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.
Players
Miami Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
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