HKB Investment Group Acquires Hialeah Gardens Hotel For $22M
7707 NW 103rd St, Hialeah Gardens, FL, USA
$22,000,000
$114/SF
Building Size
191,664 SF
Asset Type
Hotel
Closing
Nov 7, 2021
About this deal
AI
The Hotel located at 7707 NW 103rd St. in Hialeah Gardens has been sold for a price of $22,000,000. The property encompasses approximately 4.4 acres and consists of 265 units. The per unit price for this transaction amounts to $83,019.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $22,000,000
- Address: 7707 NW 103rd St.
- Market: Hialeah Gardens
- Acres: 4.4
The buyer of the hotel is HKB Investment Group, represented by Harikrushna Bhagat. On the other hand, the seller is Hinghan Street Hotel Corp. The successful sale of this property marks an important milestone in the hotel industry in Hialeah Gardens.
Players
Hialeah Gardens 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93