Updated Oct 28, 2024
Ashford Hospitality Trust Acquires Hotel In Boston, MA For $98M
40 Dalton Street, Boston, MA, USA
$98,000,000
$67,307/SF
Building Size
1,456 SF
Asset Type
Hotel
Closing
Aug 26, 2021
About this deal
AI
The hotel located at 40 Dalton St in Boston, MA was involved in a closed property transaction. The property is owned by Ashford Hospitality Trust and the landlord representative in the deal is Monty Bennett. The deal was brokered by Robert Douglas.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $98,000,000
- Loan Term: non-recourse loan, four-year initial term with a one-year extension option, floating interest rate of LIBOR + 3.80%
- Keys: 390
The loan amount for the transaction was $98,000,000. The loan term is a non-recourse loan with a four-year initial term and a one-year extension option. The interest rate is floating and is based on LIBOR + 3.80%.
Players
Boston Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93