SOLDHotel
Camilo Miguel Jr. And Charles Koch Purchase Islands Of Islamorada Resort For $38.4 Million
82779 Old Highway
$38,400,000
Building Size
—
Asset Type
Hotel
Closing
Jul 24, 2026
About this deal
AI
The transaction involved the acquisition of a hotel asset located at 82779 Old Highway in Islamorada, FL. The property comprises 30 keys and is known as the Islands of Islamorada Resort. The sale price for the hotel was $38,400,000, with a per key price of $1,280,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $38,400,000
- Buyer: Camilo Miguel Jr. - Mast Capital
- Buyer: Charles Koch - Koch Real Estate Investments
- Seller: Robert N. Frisbie - Frisbie Group
- Broker: Ocean Sotheby’s International Realty
- Lender: Ardent Real Estate
- Mortgage Broker: Scott Wadler - Berkadia
- Keys: 30
- PPK: $1,280,000
Mast Capital and Koch Real Estate Investments plan to relaunch sales of the resort's 22 waterfront villas, which start at $3.8 million. Berkadia arranged $40 million in acquisition financing from Ardent Real Estate to facilitate this transaction.
On the Map
$38,400,000
Hotel
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Players
Islamorada 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93