Baywood Hotels Acquires Miami Hotel For $18.9M From Highgate Capital Management
8730 Northwest 27th Street, Doral, Florida 33122, United States
$18,850,000
Building Size
—
Asset Type
Hotel
Closing
Jul 11, 2022
About this deal
AI
The 2.4 acre hotel property located at 8730 NW 27th St. in Miami has been sold for a total price of $18,850,000. The transaction took place on 07/12/2022. The property features 143 keys, resulting in a price per key of $131,818.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $18,850,000
- Address: 8730 NW 27th St.
- Market: Miami
- Asset Type: Hotel
- Acres: 2.4
- Buyer: Baywood Hotels - Chirag Desai
- Seller: Highgate Capital Management - Arash Azarbarzin
- Keys: 143
- Price per Key: $131,818
Chirag Desai from Baywood Hotels represented the buyer, while Arash Azarbarzin from Highgate Capital Management represented the seller in this transaction.
Players
Doral 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
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93