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Hersha Hospitality Trust Sells Cambridge Hotel For $32M

Property Image
SOLD
$32,000,000

Massachusetts

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Hotel
Sold 03/11/2021
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Property Image
SOLD

Hersha Hospitality Trust Sells Cambridge Hotel For $32M

250 Monsignor O'Brien Highway, Cambridge, MA, USA

See Similar Deals
Hotel
Sold 03/11/2021
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Summary

MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale

The hotel located at 250 Monsignor O'Brien Highway in Cambridge, MA has been sold for a total of $32,000,000. The sale took place on 03/11/2021. The property, owned by Hersha Hospitality Trust and represented by Jay Shah, was listed on the market. The deal was brokered by Cyrus Vazifdar from Hodges Ward Elliott.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $32,000,000
  • Date: 03/11/2021
  • Address: 250 Monsignor O'Brien Highway, Cambridge, MA
  • Seller: Hersha Hospitality Trust - Jay Shah
  • Broker: Cyrus Vazifdar - Hodges Ward Elliott

The successful sale of the hotel was facilitated by Cyrus Vazifdar from Hodges Ward Elliott, representing the buyer or seller. Meanwhile, Jay Shah acted as the representative of Hersha Hospitality Trust. The transaction highlights the collaboration and expertise of these key individuals and companies in closing the deal.

Players

Cyrus Vazifdar
1 deal$32M volume
BROKER

Details

SOLD
IMAGE: Cyrus Vazifdar & Jay Shah DATE: 03/11/2021 ADDRESS: 250 Monsignor O'Brien Highway MARKET: Cambridge, MA ASSET TYPE: Hotel SELLER: Hersha Hospitality Trust - Jay Shah BROKER: Cyrus Vazifdar - Hodges Ward Elliott SALE PRICE: $32,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,706,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91