Bloom Hotels Acquires 6060 Resort In Miami Beach From Integra Investments & Activate Hospitality For $23.5M
6060 Indian Creek Drive & 6060 Indian Creek Drive, Miami Beach, Florida 33140, United States
$23,500,000
Building Size
—
Asset Type
Hotel
Closing
Feb 3, 2022
About this deal
AI
Integra Investments and Activate Hospitality, led by Victor Ballestas and Sagar Desai respectively, have sold the 6060 Resort in Miami Beach for a total of $23,500,000. The property, located at 6060 Indian Creek, is a Hotel / Condo-Hotel and consists of 82 keys. The price per key stands at approximately $286,585. The buyer of the property is Bloom Hotels, while JLL acted as the broker for this transaction.
Summary of transaction details:
- Property Type: Hotel / Condo-Hotel
- Transaction Amount: $23,500,000
- Address: 6060 Indian Creek
- Market: Miami Beach
- Seller: Integra Investments & Activate Hospitality
- Buyer: Bloom Hotels
- Broker: JLL
- Keys: 82
- Price Per Key: $286,585
The 6060 Resort in Miami Beach, previously owned by Integra Investments and Activate Hospitality, will soon undergo a renovation and be rebranded under Hilton's soft-brand collection.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93