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Rolf Lohbeck Acquires Fort Myers Hotel For $8.2M From Seller Benito Irastorza

Property Image
SOLD
$8,200,000
Kian Mclean
Ahmed Kabani
+ 1

Florida

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Hotel78,843 SF
Sold 07/01/2022
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Property Image
SOLD

Rolf Lohbeck Acquires Fort Myers Hotel For $8.2M From Seller Benito Irastorza

9521 Marketplace Road

See Similar Deals
Hotel78,843 SF
Sold 07/01/2022
Kian Mclean
Ahmed Kabani
+ 1
Contact now

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$104
Total Square Footage:78,843 SF
Transaction Type:Sale

A hotel property located at 9521 Marketplace Rd in Fort Myers has been sold for a transaction amount of $8,200,000. The hotel spans a total area of 78,843 square feet, resulting in a price per square foot of $104. The buyer in this transaction is Rolf Lohbeck, while the seller is Benito Irastorza. The deal was facilitated by brokers Ahmed Kabani and Kian McLean from Kabani Hotel Group, along with Anthony Sgherza.

Summary of transaction details

The successful transaction of this hotel property showcases the collaboration between buyer Rolf Lohbeck and seller Benito Irastorza. Moreover, the deal was facilitated by brokers Ahmed Kabani and Kian McLean from Kabani Hotel Group, along with Anthony Sgherza who also played a crucial role in driving the transaction forward.

Players

Ahmed Kabani
31 deals$346.8M volume
BROKER

Kian Mclean
Marcus & Millichap
8 deals$75.5M volume
BROKER

Anthony Sgherza
1 deal$8.2M volume
BROKER

Benito Irastorza
4 deals$35.6M volume(305) 667-8081
BROKER

Details

SOLD
IMAGE: Kian McLean & Ahmed Kabani DATE: 07/01/2022 ADDRESS: 9521 Marketplace Rd MARKET: Fort Myers ASSET TYPE: Hotel BUYER: Rolf Lohbeck SELLER: Benito Irastorza BROKER: Ahmed Kabani & Kian McLean - Kabani Hotel Group (@TheKabaniGroup); Anthony Sgherza (@AnthonySgherza) SALE PRICE: $8,200,000 SF: 78,843 ~ PPSF: $104

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

$437,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20