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Validus Capital Acquires The Getaway Hostel In Lincoln Park For $6.5 Million From DRW
SOLD
$6,500,000
Illinois
See Similar DealsHotel
Sold 06/27/2025
SOLD
Validus Capital Acquires The Getaway Hostel In Lincoln Park For $6.5 Million From DRW
616 West Arlington Place
See Similar DealsHotel
Sold 06/27/2025
Summary
ILLINOIS
Asset Type:Hotel
Transaction Type:Sale
The asset involved in this transaction is a hotel located at 616 West Arlington Place in Lincoln Park, Chicago. The sale was executed for a transaction amount of $6,500,000, with a total of 119 keys, resulting in a price per key of $54,622.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $6,500,000
- Buyer: Anthony Chedid - Validus Capital
- Seller: Don Wilson - DRW
- Keys: 119
- Price Per Key: $54,622
This transaction involved Don Wilson representing DRW, while Anthony Chedid represented Validus Capital. Notably, Convexity, the real estate arm of DRW, facilitated the sale and plans to remain as a tenant in the property after Validus Capital becomes the landlord, indicating a potential partnership arrangement.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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