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Montgomery Street Partners Acquires Hotel From 2424 Kalakaua LLC In Honolulu For $215M
SOLD
$215,000,000
Hawaii
See Similar DealsHotel
Sold 08/21/2025
SOLD
Montgomery Street Partners Acquires Hotel From 2424 Kalakaua LLC In Honolulu For $215M
2424 Kalakaua Avenue
See Similar DealsHotel
Sold 08/21/2025
Summary
HAWAII
Asset Type:Hotel
Transaction Type:Sale
The property asset involved in this transaction is a hotel located at 2424 Kalakaua Avenue in Honolulu, HI. The asset was sold for $215,000,000, involving the transfer of six parcels of land that are part of the Hyatt Regency Waikiki Beach Resort.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $215,000,000
- Buyer: Montgomery Street Partners
- Seller: 2424 Kalakaua LLC
- Sale Date: 08/21/2025
- Market: Honolulu, HI
This deal marks the conclusion of a family-owned property that had been in the hands of the seller for over a century, indicating a significant shift in ownership within the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$763,849.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,019,209.69
Annual Debt Service$12,230,516.25
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