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7250 Northwest 11th Street

Updated Dec 4, 2024

GS Hotel Management Acquires Days Inn By Wyndham Miami International Airport In Doral For $17.7M
SOLDHotel

GS Hotel Management Acquires Days Inn By Wyndham Miami International Airport In Doral For $17.7M

7250 Northwest 11th Street

$17,700,000

Building Size

Asset Type

Hotel

Closing

Dec 28, 2023

About this deal

AI

The Days Inn by Wyndham Miami International Airport in Doral has been sold for $17.7 million. The property is situated at 7250 Northwest 11th Street and spans 2.99 acres. This transaction includes a 103-room hotel and Beat Culture Brewery. The buyer is GS Hotel Management, a subsidiary of Global Vision Hotels, represented by Gautam Sharma. The seller is The Almar Hotel Corporation, owned by Barry & Allan Cohen. The deal was closed on December 28, 2023, and was partially financed by a $10.6 million mortgage from U.S. Century Bank.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $17,700,000
  • Address: 7250 Northwest 11th Street
  • Market: Doral
  • Acres: 2.99

The buyer, GS Hotel Management, is a subsidiary of Global Vision Hotels. They were represented by Gautam Sharma. The seller, The Almar Hotel Corporation, is owned by Barry & Allan Cohen. The loan for this transaction was provided by U.S. Century Bank.

Players

US Century Bank
US Century BankLender

Miami Hotel Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.90%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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