Akal Hotels Acquires Hotel In Ottawa For $6.1M
120 W Stevenson Rd Ottawa, IL 61350, USA
$6,100,000
Building Size
—
Asset Type
Hotel
Closing
Nov 21, 2022
AI
A hotel located at 120 W. Stevenson Road in Ottawa has been sold for $6,100,000. The property, consisting of 69 keys, was acquired by Akal Hotels from Ottawa Hospitality Group LLC. The transaction was facilitated by Scott Havericak and Robert Hunter of Marcus & Millichap.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $6,100,000
- Address: 120 W. Stevenson Road
- Market: Ottawa
- Keys: 69
- Buyer: Akal Hotels
- Seller: Ottawa Hospitality Group LLC
- Brokers: Scott Havericak & Robert Hunter - Marcus & Millichap
The sale of the hotel marks a significant transaction in Ottawa's real estate market. Akal Hotels, represented by Scott Havericak and Robert Hunter of Marcus & Millichap, successfully acquired the property from Ottawa Hospitality Group LLC. This deal demonstrates the continued interest and investment in the hotel sector in Ottawa.
Players
Ottawa Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93