Westport Capital Partners Acquires Hotel In Chelsea, MA For $20.6M
SOLD
$20,600,000
Massachusetts
See Similar DealsHotel
Sold 07/12/2022
SOLD
Westport Capital Partners Acquires Hotel In Chelsea, MA For $20.6M
200 Second Street, Chelsea, Massachusetts 02150, United States
See Similar DealsHotel
Sold 07/12/2022
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
The Hotel located at 200 2nd St in Chelsea, MA has been sold in a transaction dated July 12, 2022. The property, consisting of 105 keys, was acquir### in a sale for a total price of $20,600,000. The buyer, Westport Capital Partners, purchased the hotel from Seneca Hospitality LLC.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $20,600,000
- Transaction Date: July 12, 2022
- Address: 200 2nd St, Chelsea, MA
- Market: Chelsea, MA
- Keys: 105
- Buyer: Westport Capital Partners
- Seller: Seneca Hospitality LLC
This transaction marks the successful acquisition of the hotel by Westport Capital Partners, a prominent player in the real estate market. The sale of the property not only represents a significant investment for the buyer but also demonstrates the ongoing activity and growth in the Chelsea, MA market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,098,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,187.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,654.51
Annual Debt Service$1,171,854.12
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