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1000 Marriott Drive, Quincy...

Paceline Equity Partners & BlackPearl Capital Acquire Hotel In Quincy, MA For $88M
SOLDHotel

Paceline Equity Partners & BlackPearl Capital Acquire Hotel In Quincy, MA For $88M

1000 Marriott Drive, Quincy, Massachusetts 02169, United States

$88,000,000

Building Size

Asset Type

Hotel

Closing

Mar 28, 2022

AI

A hotel located at 1000 Marriott Dr in Quincy, MA has been sold for a price of $88,000,000. The transaction took place on March 29, 2022. The property is a valuable asset in the market.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $88,000,000
  • Address: 1000 Marriott Dr, Quincy, MA
  • Market: Quincy, MA

Paceline Equity Partners and BlackPearl Capital are the buyers of this hotel. The sale was facilitated by brokers Sean Reimer, Aaron Appel, Keith Kurland, Jon Schwartz, and Adam Schwartz from Walker & Dunlop.

Players

Aaron Appel

Walker & Dunlop

Broker

$33.1B

vol

197 deals

Broker
PP
Paceline Equity PartnersBuyer

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