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

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SOLD
$17,700,000

Florida

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Hotel
Sold 12/28/2023
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SOLD

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

7250 Northwest 11th Street

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Hotel
Sold 12/28/2023
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

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

LENDER

Details

SOLD
IMAGE: Barry Cohen DATE: 12/28/2023 ADDRESS: 7250 Northwest 11th Street - Days Inn by Wyndham Miami International Airport MARKET: Doral ASSET TYPE: Hotel ~ ACRES: 2.99 BUYER: GS Hotel Management - Global Vision Hotels - Gautam Sharma SELLER: The Almar Hotel Corporation - Barry & Allan Cohen LENDER: US Century Bank (@USCenturyBank) SALE PRICE: $17,700,000 KEYS: 103 ~ PPK: $171,845 NOTE: GS Hotel Management, a subsidiary of Global Vision Hotels, has purchased the Days Inn by Wyndham Miami International Airport in Doral for $17.7 million. The deal, which closed on December 28, includes a 103-room hotel and Beat Culture Brewery and was partially financed by a $10.6 million mortgage from U.S. Century Bank.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$943,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$62,884.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$83,907.03
Annual Debt Service$1,006,884.36