Shreem Capital Acquires Pere Marquette And Courtyard By Marriott Hotels In Peoria For $20M
533 Main Street & 501 Main Street
$20,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 30, 2023
About this deal
AI
Texas-based Shreem Capital has purchased the Pere Marquette Hotel, Courtyard by Marriott Hotel, and a parking garage in Peoria for approximately $20 million. These acquisitions align with Shreem Capital's commitment to offering exceptional hospitality experiences.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $20,000,000
- Address: 533 Main Street - Courtyard by Marriott Peoria Downtown & 501 Main Street - Peoria Marriott Pere Marquette
- Market: Peoria
The buyer, Shreem Capital, based in Texas, represented by Bhavin Patel, has made a strategic move in acquiring the Pere Marquette Hotel, Courtyard by Marriott Hotel, and a parking garage in Peoria. The purchase price for this transaction was approximately $20 million.
Players
Peoria Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93