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Tyler Morse Of MCR Hotels Acquires Hyatt Regency O'Hare In Rosemont For $44M
SOLD
$44,000,000
Illinois
See Similar DealsHotel
Sold 12/11/2024
SOLD
Tyler Morse Of MCR Hotels Acquires Hyatt Regency O'Hare In Rosemont For $44M
9300 Bryn Mawr Avenue
See Similar DealsHotel
Sold 12/11/2024
Summary
ILLINOIS
Asset Type:Hotel
Transaction Type:Sale
The asset involved in this transaction is a 1,095-room hotel located at 9300 Bryn Mawr Avenue, known as the Hyatt Regency O’Hare, situated in the Rosemont market. The property was acquired for a total sale price of $44,000,000, resulting in a price per key of $40,183.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $44,000,000
- Buyer: Tyler Morse - MCR Hotels
- Keys: 1,095
- Market: Rosemont
Tyler Morse, representing MCR Hotels, completed the acquisition of the Hyatt Regency O’Hare, aligning with Hyatt's strategy to reduce direct ownership while continuing to operate under its brand through a franchise agreement. This transaction indicates a move towards larger full-service properties in MCR Hotels' portfolio.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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