Pebblebrook Hotel Trust Acquires Hotel In Naples For $156M
SOLD
$156,000,000
Florida
See Similar DealsHotel
Sold 05/11/2022
SOLD
Pebblebrook Hotel Trust Acquires Hotel In Naples For $156M
699 5th Avenue South, Naples, Florida 34102, United States
See Similar DealsHotel
Sold 05/11/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,320,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$554,235.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$739,519.59
Annual Debt Service$8,874,235.05
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