Tolley Group Acquires Hotel In South Portland, ME For $12.75M
171 Philbrook Avenue, South Portland, Maine 04106, United States
$12,750,000
Building Size
—
Asset Type
Hotel
Closing
Feb 3, 2022
About this deal
AI
Located at 171 Philbrook Ave in South Portland, ME, a hotel was recently sold for a price of $12,750,000. The property, consisting of 117 keys, was acquired by the Tolley Group in a transaction that took place on 02/04/2022. The per unit price for this sale amounts to $108,974.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $12,750,000
- Address: 171 Philbrook Ave, South Portland, ME
- Market: South Portland, ME
- Keys: 117
- Price per Unit: $108,974
The Tolley Group was represented in the sale by Joe Cardillo & Earle Wason of Wason Associates Hospitality Real Estate Brokerage Group.
Players
South Portland Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Browse Maine hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93