facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Louisiana

/

Hotel

/

Sale

/

301 Saint Joseph Street

Robert J. Guidry & David Bansmer Purchase New Orleans Hotel For $73M
SOLDHotel

Robert J. Guidry & David Bansmer Purchase New Orleans Hotel For $73M

301 Saint Joseph Street & 300 Julia Street

$73,000,000

Building Size

Asset Type

Hotel

Closing

May 2, 2024

AI

The dual-branded Courtyard New Orleans Warehouse Arts District and Spring Hill Suites New Orleans Warehouse Arts District, boasting a total of 410 rooms near the Ernest N. Morial Convention Center, were sold for $73 million.

Summary of transaction details:

The deal was facilitated by brokers Len Wormser and Scott Stephens of Hospitality Real Estate Consultants, representing the buyer Robert J. Guidry of Guidry Land Partners and David Bansmer in the acquisition of the dual-branded hotel property.

Players

Len Wormser

Hospitality Real Estate Consultants

Broker

$73M

vol

1 deal

Broker

New Orleans Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93