Paceline Equity Partners & BlackPearl Capital Acquire Hotel In Quincy, MA For $88M
SOLD
$88,000,000
+ 1
Massachusetts
See Similar DealsHotel
Sold 03/29/2022
SOLD
Paceline Equity Partners & BlackPearl Capital Acquire Hotel In Quincy, MA For $88M
1000 Marriott Drive, Quincy, Massachusetts 02169, United States
See Similar DealsHotel
Sold 03/29/2022
+ 1
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
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
BUYER
Details
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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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