GoodHomes Acquires Hotel Silver Spring At 8727 Colesville Road For $10 Million
8727 Colesville Road
$10,000,000
Units
227
Asset Type
Hotel
Closing
Oct 21, 2025
About this deal
AI
The asset involved in this transaction is a hotel situated at 8727 Colesville Road in Silver Spring, MD. GoodHomes acquired the former Hotel Silver Spring for a total price of $10 million. The buyer aims to redevelop the property into a multifamily building featuring 227 residential units, 114 of which will be designated as affordable housing.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Address: 8727 Colesville Road
- Market: Silver Spring, MD
- Buyer: GoodHomes
This transaction marks a significant shift for the site as it transitions from a hotel usage to a multifamily residential project. The redevelopment plans reflect GoodHomes' strategy to address housing demands in the area.
On the Map
$10,000,000
Hotel
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Players
Silver Spring Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93