Oxford Capital Group Acquires Thompson Hotel In Chicago For $70M
SOLD
$70,000,000
Illinois
See Similar DealsHotel3,062 SF
Sold 08/05/2021
SOLD
Oxford Capital Group Acquires Thompson Hotel In Chicago For $70M
Thompson Chicago, 21 East Bellevue Place, Chicago, IL, USA
See Similar DealsHotel3,062 SF
Sold 08/05/2021
Summary
ILLINOIS
Asset Type:Hotel
Price Per Square Foot:$22,860
Total Square Footage:3,062 SF
Transaction Type:Sale
The Thompson Hotel located at 21 East Bellevue Place in Chicago has been sold in a recent transaction. The buyer of the hotel is Oxford Capital Group, represented by John W. Rutledge and Sarang Peruri. The seller of the property is Walton Street Capital and AJ Capital Partners.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $70,000,000 (Approx.)
- Number of Keys: 247
- Price per Key: $283,400
John W. Rutledge, alongside Sarang Peruri, represented Oxford Capital Group as the buyer in this hotel sale. They played a crucial role in negotiating the terms of the transaction and ensuring a successful purchase.
Players
SELLER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$248,695.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$331,835.71
Annual Debt Service$3,982,028.55
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