BlackPearl Capital Acquires Hotel In Quincy From Undisclosed Seller For $88M
SOLD
$88,000,000
Massachusetts
See Similar DealsHotel
Sold 03/29/2022
SOLD
BlackPearl Capital Acquires Hotel In Quincy From Undisclosed Seller For $88M
1000 Marriott Dr, Quincy, MA, 02169
See Similar DealsHotel
Sold 03/29/2022
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$312,645.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$417,164.90
Annual Debt Service$5,005,978.75
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