Electra America Acquires 225-Key Hotel In Boston, MA From Loews Corp For $116.6M
SOLD
$116,600,000
Massachusetts
See Similar DealsHotel73,350 SF
Sold 08/17/2022
SOLD
Electra America Acquires 225-Key Hotel In Boston, MA From Loews Corp For $116.6M
154 Berkeley Street, Boston, Massachusetts 02116, United States
See Similar DealsHotel73,350 SF
Sold 08/17/2022
Summary
MASSACHUSETTS
Asset Type:Hotel
Price Per Square Foot:$1,589
Total Square Footage:73,350 SF
Transaction Type:Sale
The Hotel property located at 154 Berkeley St in Boston, MA was recently sold for a total price of $116,600,000. The property consists of 225 keys and spans a total area of 73,350 square feet. The sale price per square foot was approximately $1,590.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $116,600,000
- Address: 154 Berkeley St, Boston, MA
- Market: Boston, MA
- Keys: 225
The buyer in this transaction was Electra America Hospitality Group, represented by Russ Urban. The seller was Loews Corp.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,218,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$414,255.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$552,743.49
Annual Debt Service$6,632,921.84
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