Updated Oct 29, 2024
BlackPearl Capital Acquires Hotel In Quincy From Undisclosed Seller For $88M
1000 Marriott Dr, Quincy, MA, 02169
$88,000,000
Building Size
—
Asset Type
Hotel
Closing
Mar 29, 2022
About this deal
AI
The property involved in the transaction is a Hotel located at 1000 Marriott Dr, Quincy, MA, 02169. The sale took place for $88,000,000.00 in Quincy market. The seller's representative in the deal was Sean Reimer from Walker & Dunlop, and the buyer was BlackPearl Capital.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $88,000,000.00
- Seller's Representative: Sean Reimer(Walker & Dunlop)
- Buyer: BlackPearl Capital
- Address: 1000 Marriott Dr, Quincy, MA, 02169
- Market: Quincy
The sale of the Hotel at 1000 Marriott Dr, Quincy, MA, 02169 was facilitated by Sean Reimer from Walker & Dunlop representing the seller, whose identity was undisclosed. The buyer of the property was BlackPearl Capital, marking a significant transaction in the Quincy market.
Players
Quincy Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93