Apple Hospitality REIT, Inc Acquires Hotel In Louisville, KY For $51M
727 East Market Street, Louisville, Kentucky 40202, United States
$51,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 30, 2022
About this deal
AI
The hotel located at 727 E Market St in Louisville, KY was recently sold in a transaction. The property is a hotel asset, and it was sold for a total price of $51,000,000. The sale was completed on October 31, 2022. The hotel consists of 156 keys, and the price per key (PPK) is calculated to be $326,923.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $51,000,000
- Address: 727 E Market St, Louisville, KY
- Market: Louisville, KY
- Buyer: Apple Hospitality REIT, Inc - Nelson Knight
- Keys: 156
- PPK: $326,923
Nelson Knight of Apple Hospitality REIT, Inc represented the buyer in this transaction. The sale of the hotel represents a significant deal in the market, and Apple Hospitality REIT, Inc has made a strategic investment in the Louisville, KY hospitality sector.
Louisville 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93