Pebblebrook Hotel Trust Acquires Hotel In Naples For $156M
699 5th Avenue South, Naples, Florida 34102, United States
$156,000,000
Building Size
—
Asset Type
Hotel
Closing
May 10, 2022
AI
A hotel located at 699 5th Avenue South in Naples was recently sold for a total of $156,000,000. The transaction took place on 05/11/2022. The property was acquired by Pebblebrook Hotel Trust, represented by Jon Bortz. The hotel has a total of 119 keys, and the price per key (PPK) in this deal was $1,310,924.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $156,000,000
- Address: 699 5th Avenue South, Naples
- Market: Naples
- Buyer: Pebblebrook Hotel Trust - Jon Bortz
- Keys: 119 ~ PPK: $1,310,924
The sale of the hotel was completed with the involvement of Jon Bortz, representing Pebblebrook Hotel Trust. This transaction marks a significant milestone in the Naples hospitality market.
Naples 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93