WRD Sunshine Skyway LLC Acquires Hotel In St. Petersburg From Marina Beach Associates For $17.3M
6800 Sunshine Skyway Lane South, St. Petersburg, Florida 33711, United States
$17,300,000
Building Size
—
Asset Type
Hotel
Closing
May 12, 2022
About this deal
AI
The hotel located at 6800 Sunshine Skyway Lane South in St. Petersburg has been sold for a total of $17,300,000. The transaction took place on May 13, 2022. The property is owned by Marina Beach Associates and was purchased by WRD Sunshine Skyway LLC.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $17,300,000
- Address: 6800 Sunshine Skyway Lane South, St. Petersburg
- Market: St. Petersburg
In this deal, WRD Sunshine Skyway LLC acted as the buyer, while Marina Beach Associates served as the seller.
Players
Saint Petersburg Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93