Baywood Hotels Acquires Miami Hotel For $18.9M From Highgate Capital Management
SOLD
Florida
See Similar DealsHotel
Sold 07/12/2022
SOLD
Baywood Hotels Acquires Miami Hotel For $18.9M From Highgate Capital Management
8730 Northwest 27th Street, Doral, Florida 33122, United States
See Similar DealsHotel
Sold 07/12/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,005,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$66,970.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$89,358.62
Annual Debt Service$1,072,303.40
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