Newbond Holdings Acquires Hotel In Boca Raton For $37.9M
999 East Camino Real, Boca Raton, FL, USA
$37,900,000
$475/SF
Building Size
79,728 SF
Asset Type
Hotel
Closing
Dec 7, 2021
AI
The Hotel located at 999 E Camino Real in Boca Raton has been sold for a total of $37,900,000. The property, which was sold by The Lane Organization, consists of 139 keys and has a price per key of $272,662.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $37,900,000
- Keys: 139
- Price Per Key: $272,662
Newbond Holdings, represented by Neil Luthra, acquired the hotel from The Lane Organization. This transaction marks a significant deal in the Boca Raton market.
Players
Boca Raton 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93