Continental Real Estate Companies Acquires Courtyard By Marriott Louisville Airport For $15.2M
819 Phillips Lane
$15,200,000
$286/SF
Building Size
53,088 SF
Asset Type
Hotel
Closing
Nov 7, 2023
About this deal
AI
The Courtyard by Marriott Louisville Airport, located at 819 Phillips Lane in Louisville, KY, has been sold for $15.2 million. The hotel, with a total area of 53,088 square feet, was purchased by Continental Real Estate Companies from the seller, Ashford Louisville LP. This 150-room property has a price per square foot of $286 and a price per key of $101,333.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,200,000
- Address: 819 Phillips Lane - Courtyard by Marriott Louisville Airport, Louisville, KY
- Market: Louisville, KY
- Buyer: Frank Kass & Jack Lucks - Continental Real Estate Companies
- Seller: Ashford Louisville LP
- Square Footage: 53,088
- Price per Square Foot: $286
- Keys: 150
- Price per Key: $101,333
Continental Real Estate Companies, based in Columbus, Ohio, was represented by Frank Kass & Jack Lucks in the transaction.
Players
Seymour Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93