Trinity Investments Acquires The Diplomat Hotel In Hollywood, FL For $835M
The Diplomat
$835,000,000
$835,000,000/SF
Building Size
1 SF
Asset Type
Hotel
Closing
Feb 3, 2023
About this deal
AI
The Diplomat, located at 3555 S Ocean Drive in Hollywood, FL, has been sold in a recent transaction. The property involved in the deal is a hotel. The sale took place on 02/03/2023. The asset was purchased by Trinity Investments from the seller, Brookfield. The sale price for the transaction amounted to $835,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $835,000,000
- Address: 3555 S Ocean Drive - The Diplomat
- Market: Hollywood, FL
- Buyer: Trinity Investments
- Seller: Brookfield
In this deal, Trinity Investments acted as the buyer, represented by their broker, and Brookfield acted as the seller. The successful transaction highlights the significance of the Diplomat Hotel and the attractiveness of the Hollywood, FL market.
Players
Hong Kong Island 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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93