Kolter Hospitality Acquires Hyatt Hotels In Dania Beach For $40.11M
90 SW 18th Ave, Dania Beach, FL 33004, United States
$40,110,000
Building Size
—
Asset Type
Hotel
Closing
Jul 3, 2023
About this deal
AI
Kolter Hospitality has acquired two Hyatt-branded hotels in Dania Beach from Blackstone for a total of $40.11 million. The properties, Hyatt House Fort Lauderdale Airport located at 90 Southwest 18th Avenue and Hyatt Place Fort Lauderdale Airport located at 91 Southwest 18th Avenue, were previously purchased in 2015 for $36.24 million, indicating an increase in value.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $40,110,000
- Address: 90 Southwest 18th Avenue - Hyatt House Fort Lauderdale Airport & 91 Southwest 18th Avenue - Hyatt Place Fort Lauderdale Airport
- Market: Dania Beach
The buyer in this transaction was Kolter Hospitality, represented by Scott Webb. The seller of the two hotels was Blackstone, with Stephen Schwarzman as their representative. The lender involved in the deal was First-Citizens Bank & Trust Co. The properties consist of a total of 292 keys, with a price per key of $137,363.
Note: The Hyatt-branded hotels in Dania Beach were sold for $40.11 million, showing an increase in value since their last purchase in 2015.
On the Map
$40,110,000
Hotel
View full map
Players
Miami Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Browse Miami hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93