Marcus & Millichap Sells 11-Property Hotel Portfolio Across Multiple States For $101 Million
$101,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 18, 2024
AI
The sale involved an 11-property Courtyard Hotel portfolio situated across multiple states including Illinois, Ohio, Alabama, Arkansas, Virginia, Kentucky, and Oklahoma. The transaction was valued at $101,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $101,000,000
- Seller: Skyline Investments Inc
- Brokers: Allan Miller, Christopher Gomes, Ebrahim Valliani & Michael Klar - Marcus & Millichap
- Market: Illinois, Ohio, Alabama, Arkansas, Virginia, Kentucky & Oklahoma
Marcus & Millichap announced the successful facilitation of this transaction by Ebrahim Valliani and the Miller-Gomes Hotel Team, who connected various buyers with lenders, enabling the seller to meet closing requirements despite prevailing market uncertainties.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93